Could 2012 Be The Year Of The Chinese Hard Landing?

BMI View: China's economic growth story has rapidly turned from one underpinned by productivity gains to one engineered by inflationary monetary and fiscal policies, and the quality of growth has suffered considerably as a result. Several years of poor capital allocation will have to be unwound eventually, leading to much slower headline expansion, and with the global economy stuttering in H211, we caution that 2012 could yet be the year of the Chinese 'hard landing'.

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