Even so, I would like to put this supposedly bad news into perspective: China is now the secondlargest economy in the world. By virtue of its sheer size alone, this means that growth of 7% today will leave a larger footprint on the global economy than, say, growth of 11% did in 2005. 1  IMF forecast: 2015 6.8%; 2016 6.3%.
BIS central bankers’ speeches  1  In addition, more moderate rates of growth are a typical consequence of the catching-up process of emerging market economies with rising per capita income.