(Caixin) Against the backdrop of a slumping economy, the party-run People’s Daily newspaper has once again sought answers from an unnamed “authority.” A “person in authority” told the paper in an interview published May 9 that China’s economy is on an “L-shaped” trajectory for recovery. The interviewee’s point was that neither a U-shaped nor a V-shaped line would appear on charts tracking the nation’s economic growth rate. Instead, the chart would reflect a drastic decline followed by slow yet stable growth. The message conveyed did not stray far from what analysts had previously agreed upon. Nevertheless, the interview generated a lot of discussion among economists over its timing and implications. The interview, apparently aimed at dispelling market jitters over slow […]
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