Some have argued that the slowdown in the Chinese economy is neither recent nor a surprise. China’s GDP growth has been decelerating over the past 5 years, from 10.6% in 2010 to 7.4% in 2014. This is projected by the IMF to decline to 6.8% in 2015 and 6.3% in 2016.
Yet, the IMF’s August 2015 Article IV report1 in fact states that China is moving towards a new normal of slower yet safer and more sustainable growth.