BIS central bankers’ speeches  7  In short, the limited prospects for stronger consumption growth and the declining returns to investment suggest that the bulk of the rebalancing over coming years is likely to be accomplished through slower investment growth. Other things being equal, this would entail a further easing in growth of activity overall.
Competing objectives and rising risks The Chinese authorities acknowledge the challenges posed by the various objectives they have set themselves. A key objective is to double 2010 income levels by 2020. This would require annual average growth of 6.5 per cent over the next few years.