China’s economic slowdown has triggered a debate about a deceptively simple question: what is the country’s “new normal” growth rate?
During the past three decades, businesses and investors became accustomed to 10 per cent annual growth. There were periods of overheating and undershooting but the economy always gravitated towards 10 per cent.
Analysts believe those double-digit days are firmly in the past. But there is no consensus about the economy’s new growth trend, with estimates ranging from 7 per cent to 9.5 per cent.
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