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China's growth forecast was lowered by Credit Suisse and Deutsche Bank to 7.7-8.0% and 7.9-8.2%...

  • Thursday, June 14, 2012, 3:14 AM ET
    China's growth forecast was lowered by Credit Suisse and Deutsche Bank to 7.7-8.0% and 7.9-8.2% respectively. The predictions indicate the weakest growth since 1999 as corporate profits fall and deflation looms. To unleash productivity gains, the government should break monopolies in banking and utilities, open the services industry, and deregulate interest rates and the exchange rate, suggests Credit Suisse. (previously)
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    Relaxing foreign investment rules is nice, but doesn't come close to the reform China needs.
    By CARL WALTER AND FRASER HOWIE
    14 Jun 2012, 04:47 AM Reply Like
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