China’s Bumpy New Normal

China’s shift from export-driven growth to a model based on domestic services and household consumption has been much bumpier than some anticipated, with stock-market gyrations and exchange-rate volatility inciting fears about the country’s economic stability. Yet by historical standards, China’s economy is still performing well – at near 7% annual […]

Joseph E. Stiglitz Professor, Columbia University via CHINA US Focus http://ift.tt/1NEIc2s