China has experienced supernatural growth over the last
several years and many people expected it to keep booming. A study of economics suggests otherwise and
China’s goals are starting to reflect that.
China has lowered its projected growth of GDP from 8 percent to 7.5
percent. Many think these numbers are
bloated to keep political figures in office.
Whether the reason is because their economy can’t sustain their growth
or their simply choosing to cut back, the Chinese government is saying that the
reevaluation is because they want to focus on high-quality growth. This may also be a statement to support
politicians in a country with a slowing economy. To put the growth in perspective, the US has
averages nearly 2 percent growth while China has been experiencing growth as
high as 9 percent per year.
It will be interesting to see how China's economy and it's citizens along with the global economy are effected by China's decision to cut back on growth. I hope that as China cuts back on growth that they will be able to focus their citizens and improve working conditions.
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