Today we saw Chinese trade data disappoint markets.
Remember, in the Chinese version of the State of the Union speech last year, outgoing premier Wen Jiabao said China had set an official growth target of 7.5%. The latest string of data and Chinese policymakers’ hardline amid the recent liquidity squeeze suggests that GDP growth could miss this target.
Bloomberg BRIEF’s Michael McDonough tweeted this chart of China’s GDP forecasts for the second, third, and fourth quarter of 2013. Clearly economists are expecting slower growth:
He later tweeted that policymakers would have to do more to meet the 7.5% GDP target.
China’s government will most likely need to react to defend its 7.5 per cent growth target.
— Michael McDonough (@M_McDonough) July 10, 2013
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