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

|By:, SA News Editor

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)