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Chinese president Xi Jinping just declared that China will grow an average of6.5% a year from 2016 until 2020. The announcement comes as part of China’s 13th Five-Year Plan—that throwback to hoary socialist planning that lays out the country’s blueprint for economic and social development—in which Xi vows to, by the end of the decade, double China's 2010 per capita GDP.
More importantly, that 6.5% target is also a faster pace than China should be trying to grow, says Jiming Ha, an economist at Goldman Sachs in Hong Kong.
“Can China grow its economy by 6.5% in the next five years?”...