On Thursday, Beijing’s National Bureau of Statistics (NBS)
announced that the Chinese economy grew 7.4% in the third quarter, Forbes reports.. That was down from 7.6% in Q2 and 8.1% in Q1. It was the seventh-straight quarter of
declining growth and a 14-quarter low.
Moreover, growth for the first time fell below Premier Wen Jiabao’s
full-year target of 7.5%.
The consensus of observers, however, is that the worst is
over. As a CNBC headline put it,
“Suddenly, Everyone’s Turning Bullish on China.” Now, it appears, the only argument is over
how strong the recovery will be. If
you’re Zhiwei Zhang, you’re ecstatic.
“Growth will rebound sharply in the fourth quarter,” the Nomura
economist wrote.
Others are more cautious.
“We expect growth to bottom out in the third quarter, before mounting a
gradual recovery that sees the economy expanding by 7.75% this year and 8.25%
next year,” writes Anoop Singh, the IMF’s Asia-Pacific director……….
Wait, wait...there's more at http://www.forbes.com/sites/gordonchang/2012/10/21/has-chinas-economy-bottomed-out/
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