Guest Column

The world should pray for a U-shaped recovery in China

  • Published 29 Jul 2010

Professor Wang Jianmao of China Europe International Business School looks back to the overheating days of the mid 1980s to warn that without the necessary economic adjustment, China could be headed for another hard landing.

A few months ago, China's official GDP growth numbers for 2005-2008 were quietly revised upwards to 11.4%, 12.9%, 14.4% and 10.2%, respectively. In fact, China's growth rate of per capita GDP in 2007 surpassed the highest level ever achieved in 1984, since the country adopted its reform and opening-up policy.

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