China has been growing extremely rapidly for a long time, but an important shift in its growth pattern occurred at the time of the global financial crisis. David Dollar writes that China’s growth has been impressive compared to the rest of the world, but lost in the admiration is the fact that the growth rate has slowed down to around seven percent—down more than four percentage points from the pre-crisis period. Thus, in the recent period China has been using a lot more investment in order to grow significantly more slowly than in the past.
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