Right on target

IT ALL seems a little too perfect to be true. The Chinese government set a growth target of “about 7%” this year; the economy, ever responsive to the Communist Party’s needs, has hit exactly that number for two quarters in a row. Cue a chorus of scepticism.

The first quarter did look suspicious. Growth in industrial production was the weakest since the depths of the financial crisis; the property market, a pillar of the economy, crumbled. China reported real growth (ie, after...

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