“China’s future economic growth will definitely gradually slow down. The issue for China’s economy is the quality of growth, which is why we now have to carry out structural adjustment and transform our development model. The true meaning of this is raising the quality and efficiency of growth. So we should change our attitude, and be calmer.”
The above quote is from deputy Chinese central bank governor, Yi Gang. He is the latest Chinese leader to highlight that China’s economic model is changing from export-driven development. It corresponds with a note from IMD, the leading Business School, that points out 2010 represents the peak year in demographic terms for China’s working population.