China: Cautious Optimism for Economy Despite GDP Drop


As China prepares for a once-in-a-decade leadership transition with the Party Congress that opens on November 8, economic forecasts leave much to be desired. In news that Beijing will probably attempt to downplay, China’s National Bureau of Statistics (NBS) announced on October 18 that the Chinese economy slowed for the seventh consecutive quarter to the lowest level in 13 years. However, other data provided reasons for cautious optimism for a turnaround in the Chinese economy in the coming months.


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