” The Chinese economy continues to slow down and Beijing’s target of 7.5 percent growth now seems likely for the year, he said, adding the days of 10 percent growth are probably over and that China is transforming to slower but probably better quality growth.”
China is transforming its economic growth toward a more balanced direction, from export- and investment-driven growth toward a more domestically centered model based on internal consumption, rising incomes, and environmental sustainability, and from “Made in China” to “Created in China,”
Chairman of GS’s Asset Management Jim O’Neill in a recent interview with Xinhua News
