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Time To Throw In The Towel? China Hints At Lower Growth
In "not very exciting but nonetheless important" news, PBoC adviser Huang Yiping has gone on record
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It has to be borne in mind that as the Chinese economy makes the transition to the service industry, it will become increasingly difficult to measure GDP growth. All one has to do is look at Italy, where the “black economy” has traditionally been about 20% of GDP. This is an estimate -:)