What China says about China

Chinese Finance Minister Lou Jiwei told his Group of 20 counterparts that the country’s economy is likely to face tough conditions for up to 10 years, sources familiar with the G-20 meeting said Sunday.

Following the two-day gathering through Saturday, the Chinese government said Lou told the finance chiefs that the next five years would be painful for the Chinese economy, and would include a difficult process of structural adjustment.

I don’t see why he would say that if growth were still in the five to seven percent range.

The Nikkei article is here, hat tip to the essential Nerys Avery.


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