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China’s road to nowhere?

If its economy slows any more, the consequences will be felt across the globe

By Nick Carn   September 2013

The Chinese city of Ordos, built to house 1.5m people. In 2011, capital spending accounted for 50 per cent of China’s GDP. (© 2011 AFP)

In March this year, China’s new Premier, Li Keqiang, pledged to open the economy in a “self-imposed revolution” which would “feel like cutting one’s own wrist.” Even allowing for the possible infelicities of translation, this warns of an unpleasant and risky procedure. The new Chinese government is only a few months old but already the future for China looks quite different from what many commentators…

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