All the talk was of China’s inexorable progress. No one could countenance the notion that China’s economy will suffer anything other than a minor hiccup in the year ahead. All bearish thoughts were dismissed.
Yet there was a fin de siècle air about the event. Perhaps it was former Labour government business secretary Lord Mandelson’s glad-handing that prompted the sentiment.
China’s economy is under strain as inflation threatens to spiral out of control.
Officially, consumer price inflation was up 5.1% in November year on year – a 28-month high. Goldman Sachs’s chief China economist says the country could see double-digit inflation unless Beijing takes more action soon. Many analysts believe consumer price inflation is already running at that level, given the rise in...
