"China's continuous, rapid economic growth since the Reform and Opening up of the country in the early 1980s has been praised as a miracle of the world economy. However, since 2012, the rate of growth has slowed down, rendering some people pessimistic about the country's economic prospects. This...

China has been growing at high rates during the previous three decades. The current process of rebalancing from an investment- and manufacturing-led growth model towards a consumption- and service-led model is associated with decreasing growth rates. We show that China's current state of...