In China, Slower Growth Is Acceptable to Tackle Debt, Smog


Click to enlargeChinatopix

China can achieve a goal of doubling the size of its economy by 2020 even if annual expansion slows to 6.3 percent, according to a senior Communist Party official, signaling a greater willingness to tackle debt and pollution at the expense of growth…

In its blueprint for 2016 to 2020, China set a minimum annual growth target of 6.5 percent for the five-year period to achieve the goal of doubling gross domestic product from 2010 levels…Over the weekend, Yang Weimin, an official from the Communist Party committee overseeing economic policy, said annualized growth of 6.3 percent in 2018-2020 would do.

Based on current economic performance, the 2020 target won’t be a “huge barrier,”…China is seen growing 6.8 percent this year and 6.5 percent in 2018, according to economist estimates compiled by Bloomberg…

Yang’s remark is “a heads up on how the new thought will be implemented,” said Zhu Ning, deputy director of the National Institute of Financial Research at Tsinghua University in Beijing.

There have been times when the United States was governed and advised by technocrats, economists and, yes, even politicians who understood the value of adjusting the course of government to benefit most of the people. Not just the moneybags who could afford to belong to the Fake President’s country club.

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