BEIJING (Reuters) – As evidence mounts that China’s economy is losing momentum, economists are fast abandoning their rosy recovery forecasts and bracing for what could be the country’s slowest growth rate in 23 years.
In the space of five months, analysts have swung from confidently predicting a modest pick-up in the world’s second-biggest economy to pondering the chance that China will miss its own 7.5 percent growth target this year.
Concerns that Beijing’s growth target may be under threat came to the fore on Thursday, when a preliminary survey of Chinese factories showed .
There will be no big-bang stimulus like the 4 trillion yuan ($652 billion) package unveiled after the 2008/09 financial crisis to spur growth, analysts say. Instead, that requires less state planning.
There’s a lot to say about all of this, but, I’m pressed for time. But, I would like to introduce something that is obvious, but…
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