#AceFinanceNews – CHINA (Beijing) – 01 August – Thirty years of China’s growth, and their economy has began slowing. The country needs to implement the announced reform agenda and address vulnerabilities to secure a safer development path, said the IMF.
China’s growth was 7.7 percent in 2013 and is expected to be around 7½ percent in 2014, in line with the government’s target, the IMF said in its most recent report on the state of the Chinese economy.
Much of China’s slowdown has been structural, reflecting the natural growth convergence, but weak global growth has also contributed.
In their annual assessment, the report’s authors emphasize that China’s heavy reliance on investment and credit to drive growth since the global financial crisis is running out of steam as investment efficiency has been declining.
The result has been in appropriate use of resource’s and the inability of the countries leaders to adequately provide for their burgeoning poor.
Whereas the rich of Chinese Republic have seen ever rising living standards, the poorer see no difference between the days of Mao and now. As only the few have benefited from growth others see the eventual decline of the Chinese Dragon of progress.