GDP slower but resilient
China Daily | Updated: 2013-04-16 08:03
China's unexpected slowdown in GDP growth in the first quarter will add to the difficulties policymakers face in restructuring the economy, but it is far from being unaffordable, especially given the still sound labor situation.
The country's GDP growth for the first three months was 7.7 percent year-on-year, lower than expected. This has sparked concerns that the nascent recovery that began in last quarter of 2012 has come to a halt.
Such concerns have been aggravated by the latest prediction from the World Bank, which has trimmed its forecast for China's full-year growth from 8.4 percent to 8.3 percent, citing the country's rebalancing efforts.
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