| Those looking for proof of China's economic rebalancing act should stay clear of macro data and focus instead on micro evidence, according to Goldman Sachs. The investment bank released a research note Tuesday, detailing how changes in the composition of exports and commodity consumption are the most useful metrics to evaluate how Beijing is moving toward a consumption-led model, the so-called new economy.
"While the exports share of gross domestic product (GDP) in China today is similar to the level seen in the mid-1990s, the types of goods exported by China have changed significantly" Goldman explained...............................................Full Article: Source
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