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PacNet #17 – Devil in details of grand urban plan

Few doubt that growth in China’s economy will grind to a halt in the next few years. Many believe there will be a significant slowdown from the double-digit development of the past three decades. Premier Wen Jiabao in his last speech at the opening session of the National People’s Congress (NPC) on Sunday announced a 7.5 percent target for 2013. But the major concerns are about the third decade of the century, when China’s gross domestic product could overtake US GDP. Then, many believe China’s economy could fall into some form of stagnation, like that of Japan after the 1980s.