So the Chinese economy has not crashed. But neither is it likely to return to the sorts of double-digit percentage rates of growth in real GDP, and 15 per cent growth rates for industrial production, that we saw for some years. People expecting that to resume are likely to experience disappointment.
These trends are entirely consistent with two propositions that we have advanced over the past several years. The first was that China’s economy would have an important and  4  BIS central bankers’ speeches  increasing weight in the regional and global economies. China’s economy is nearly three times the size it was a decade ago.