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While pundits not long ago were debating China’s rise, the emerging consensus is now heralding an end
to the ‘China miracle’. China’s old model of credit-fuelled, investment-driven growth has been severely
undercut by the real estate crisis, as well as weak consumption and export demand. But recent data
suggests that recovery has regained momentum.
China’s real GDP growth rate in the first three quarters of 2023 reached 5.2 per cent year-on-year. Solar cell, service robots and integrated circuits production…