We look back and forward to celebrate the arrival of the Year of the Rat. 2007 is an eventful year. Global economic growth has slowed down due to the reverberations arising from the subprime crisis originated in the US. At the same time, financial risk which has hidden under years of economic prosperity starts to take its toll.
The shift in growth seen thus far, though, is consistent with China’s transition to a more services-  BIS central bankers’ speeches  3  oriented, domestically driven economic model; if we look at it that way, we have no cause for anxiety.