China's New GDP Range Target Is A Balancing Act

China's New GDP Range Target Is A Balancing Act by Dan Steinbock, Difference Group

China's new growth target of 6.5-7% will ensure more flexibility amid deceleration at home and stagnation in the West. It is a balancing act between reforms and deleveraging.

Last Thursday marked the opening of China’s annual “Two Sessions,” or the annual plenary meetings of the mainland’s top legislative and consultative bodies. These meetings offer an opportunity to observe China’s economic and political trends, including the 13th five-year plan, poverty alleviation and charity law, supply-side reform and reform of the judicial system, the One Belt One Road initiative, green development, and the anti-corruption struggle.

Yet, public spotlight remains on China’s new range target of 6.5-7 percent for...