China Abandons 6.5% Growth Target

China Abandons 6.5% Growth Target

As the majority of trading floors in New York and London have now closed holidays, it is the perfect time to policymakers around the world to release any news that might result in an adverse reaction from markets, in the hopes that by the time the traders come back, everyone will have forgotten about it.

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China has by effectively revealing what most analysts were already speculating: the country will have to abandon its growth target of 6.5%.