China GDP: less will be more

Standard Chartered Senior Economist Chi Lo outlines his radical views on why China will benefit from lessened GDP growth of 6% in 2002.

FA How do you think accession to the World Trade Organization, scheduled for the first half of next year, will affect China's GDP growth rate

Chi Lo I think it could fall to as low as 6% next year. But I don't see this as negative. The whole point of joining the WTO is to increase efficiency. China will be going on a diet, as it were, and the growth that does materialize should be far more efficient. So far, a lot of the growth has been provided by massive government spending, which is not necessarily the most efficient way of producing growth. Having said that, government...

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