Is the Chinese miracle over?

By Yao Yang

Economist Yang Yao is Liberal Arts Chair Professor at the China Center for Economic Research and the National School of Development at Peking University.

Concerns about China’s economy are unfounded: The manufacturing sector continues to flourish, the country is investing in new technologies and the government is taking expansive monetary and fiscal policy measures to boost growth.

China’s economic performance over the last year has been disappointing – so much so that some observers argue that growth has already peaked, and that it is all downhill from here. But it is far too soon to write off China’s economic resilience.

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