The NY Times

China Likely to Meet 2014 Growth Targets

The NY Times says that despite debt problems, The World Bank predicts that China will likely meet its 7.5% economic growth target this year. While The World Bank remains optimistic, saying that China’s growth momentum will accelerate as 2014 moves on, many private economists aren’t so sure. Their worry comes from China’s debt, following the 4 trillion renminbi ($585 billion USD) stimulus the government implemented during the financial crisis in 2008-9; a debt that will require China to rethink fiscal and financial policies and systems. Something everyone is excited about? China, traditionally focusing on export and investment, is also turning toward domestic consumption. 

Central Business District of Beijing