there are signs that some of China’s economy challenges may be structural, such as the ageing population and shrinking pool of workers.
Economists think that achieving this year’s 5% target may be ambitious considering the Chinese economy’s structural problems and Beijing’s changing priorities. The International Monetary Fund predicts that China’s economy will grow by 4.6% this year.
Enodo Economics, a macroeconomic forecasting firm, said: “the GDP goal has decreased in importance in recent years”. China’s leader, Xi Jinping, “has de-emphasised growth – and therefore the importance of the GDP goal – in favour of ironing out the structural issues he believes undermine overall economic security.”
I just read a comic about metrics becoming goals…