Much ado about 20 basis points in China

Analysts decrying a slowdown in Chinese GDP should look at the bigger picture to get an idea of where the country’s growth is really positioned.

Last week, when China’s first quarter GDP growth figure came in at 7.7 per cent, 20 basis points below the 2012 fourth quarter of 7.9 per cent, headlines around the world cried that China’s economy was slowing, the number was disappointing, China had stalled, and so on.  Financial market analysts hit the TV talk shows, warning of lacklusture growth from China, which would take the steam out of equities. And of course there was a big fall in equities last week.

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