Wednesday, January 28, 2009

Fan Gang: seven percent or less

CHONGQING, CHINA - DECEMBER 27:  A porter rest...Image by Getty Images via DaylifeProfessor Fan Gang, a member of the monetary policy committee of the People's Bank of China, expects China's growth will be limited to seven percent of its GDP or even less, unless drastic reforms are being taken, writes Reuters, based on an academic paper.
A focus on domestic consumption is more important than external factors like export, Fan Gang and two other authors write. When that reform is successful, China could maintain an annual growth of nine percent till 2020.


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