China’s modest growth target signals policy shift from the world ...Qatar

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China’s modest growth target signals policy shift from the world
China’s government set a conservative economic growth target for this year, shifting its focus from recovery mode to longer-term challenges like reining in debt and reducing technological dependence on the US. The growth target was set at above 6%, well below economists’ forecasts, with the budget deficit expected to fall to 3.2% of gross domestic product, Premier Li Keqiang said yesterday at the opening of the National People’s Congress. In sharp contrast to places like the US, where the Biden administration is trying to push through a new $1.9tn stimulus package, Beijing outlined a plan to normalise policy now that the pandemic is under control domestically and the economy has bounced bac

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