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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