BEIJING — For a long time, China has served as a sustained growth engine for the world’s economy. However, after a decade of miraculous expansion driven by exports and investment, China’s economy is slowing, and is moving away from the model that has served it so well.
Is the "oriental pearl" losing its luster? Or is it appreciating in value?
Jing Ulrich is especially qualified to answer these questions. Ms. Ulrich is the managing director and chairman of global markets, China at J.P. Morgan. She is one of the most prominent advisors to some of the world's largest asset management companies, sovereign wealth funds and multinational corporations.
Steps that encourage China's 260 million migrant workers to settle into cities should help turn them into urban spenders and underpin growth amid worries of a sharp slowdown in the world's second biggest economy, a new report from HSBC suggests.
China's economy grew an annual 7.5 percent in the second quarter of the year, slowing for a second straight quarter, while recent weak economic numbers have fanned concerns about a hard landing or steep slowdown in the Asian powerhouse.