Time to get used to slower growth in China

Trade war and global slump provide Beijing justification to change gears to a more sustainable growth rate

China's economic growth has continued to slow in recent months, and may even dip below 6 per cent in the second half of the year amid a general downturn in the global economy and an escalation in the US-China trade conflict.

Despite these pressures, Beijing looks disinclined to stimulate the economy. What looks to be happening is that China is prepared to embrace slower but more sustainable growth, and 2019 is going to be remembered as the year China "shifted gears" in the management of its economy.

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A version of this article appeared in the print edition of The Straits Times on August 27, 2019, with the headline 'Time to get used to slower growth in China'. Print Edition | Subscribe