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Opinion

China's latest GDP growth figures reveal bad news for 2020

Economy is slowing and nation cannot rely on another massive boost in credit

| China
Growth is unlikely to come using the historical credit-fueled model.   © Chinatopix/AP

That China's real GDP growth for the fourth quarter last year came in at 6% surprised absolutely no one.

That took full-year growth to 6.1%. This was the lowest figure in 29 years but above the magic 6% level that represents a psychological barrier for Beijing but nothing much in reality. There was no way the reported rate would have been allowed to fall below 6%.

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