As 2012 progresses it is becoming increasingly clear that economic growth in China isslowing more sharply than many had expected—including, probably, the country’sleadership. Moreover, data releases continue to provide little evidence of the expected pickupin activity, and talk has even begun to turn to the possibility that the benign scenario of asoft landing for the Chinese economy can no longer be taken for granted. With the Chineseeconomy having been a central engine of global growth over the past decade, and a keybuffer during the 2008-09 global crisis, such a scenario would clearly deliver a grave blowworldwide.
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