Concerns about China’s slowing economy are misplaced, asserts JPMorgan’s Jing Ulrich. It’s not so much about slowing as it is about rebalancing, she says. For years, growth came from exports and heavy industry, but now, China’s economy is fueled by something else – consumers. And with unemployment in China running at just 4.3%, the consumer is doing just fine. Although the demand won’t fully offset slower growth entirely, Ulrich doesn’t believe the region will see anything close to a hard landing.
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