Some experts dispute the belief that Chinas personal consumption is so low. They say businesses often buy goods for their employees to avoid taxes. This means companies are increasing demand for household goods by buying them directly.
Click to enlarge--China GDP growth, 2010 - 2013Chinese officials say they want to reduce the economic influence of state-controlled businesses and to let market forces shape the economy. However, economists expect Chinas growth to slow in the coming years. How quickly that happens depends on several issues.
The recovery of the United States and European economies means rising demand for Chinese exports. One issue that might slow growth is the expanding load of local government debt. That debt is estimated at about $3 trillion, or about one third of the size of the economy. China has long tied its estimate of local officials on their ability to grow the economy.
Reforms are possible, but some could slow economic growth. The government is moving away from growth to areas such as environmental protection and the ability of local officials to contain debt. Experts say that could also weaken investment and slow growth.
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