From Xinhuanet:
China’s economy is still running on the fast track despite the recent macroeconomic control measures. Experts estimate the country’s gross domestic product (GDP) may hover around 9 per cent this year. Last year, it was 9.3 per cent year on year. Next year, the figure would still remain between 8 and 9 per cent, according to estimates by domestic economists.
Years of rapid GDP growth have made the national economy ever powerful. But a balanced development, which is advocated by the central leadership and in the fundamental interests of the people, requires more than a sound and fast-growing economy. Our society faces many problems as our nation develops.
A recent book on China’s social life compiled by the Chinese Academy of Social Sciences (CASS) lists many such problems, including unemployment, corruption and a widening financial gap between rural and urban areas. All these problems ring alarm bells for those steering the country’s long-term development.
