Slower Growth and Provincial Growth Disparities

CHINA FINANCIAL - Report 31 Aug 2014 by Michael Pettis
Executive Summary Over the past few decades as China’s economy has grown rapidly, there have been significant disparities in the growth rates among different Chinese provinces. I expect that disparities will remain even as the economy continues to slow.While the very different growth rates among provinces during the period of rapid growth may have created economic costs for China, these have probably been relatively minor (I ignore potential social and political costs). This might no longer be the case when overall growth rates are much lower.We should not assume that the way rebalancing co...

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