Chinese Economy | featured news

As China embraces the wealth of a market-oriented economy, the boom is breeding a generation of nouveau-riche lotharios seeking to rival the indulgences of their imperial ancestors.

China's economy slowed less sharply than expected in the second quarter and Beijing said corralling inflation remained its top priority even though a "complex and volatile" global economy clouded the outlook.

China's economy slowed in the second quarter as the government steered monetary and fiscal policy back to normal after a record credit surge last year to counter the global crisis.

Would an increase in Chinese domestic demand meaningfully reduce global imbalances and improve U.S. and European employment prospects?

So the question isn't whether the Chinese economy will change, but how. The optimistic view is that Chinese leaders will slow their investment and credit boom, and at the same time make a transition to a consumer-led economy that doesn't depend so much on exports.