Up Shibor creek with Michael Pettis
FT Alphachat
00:00
The Impact of 3% GDP Growth on China's Employment Rate
A lot of people assume that if you see growth rates drop from 10% to 3%, that'll be devastating for China. But I don't think that's the case at all, and it depends on how the transition takes place. The challenge for Beijing is to maintain the growth rate as much as possible of household income while GDP growth rates flow significantly. That's what it means to rebalance.
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