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let s start with china, because it s currently holding its annual two day national people s congress and has set out its economic forecast for the year. premier li keqiang told a packed audience in beijing on sunday, that the government hoped to achieve economic growth of around 5% in 2023. the figure is in line with most analyst predictions. last year, successive strict lockdowns slowed china s growth. official figures show the world s second largest economy grew by 3% last year, which was way below the government target of five and a half % and its slowest for decades. lets discuss this with louise loo, senior economist at oxford economics. there s widely expected to be a big shakeup in the team handling the economy. around 5%, it probably implies that growth as low as 4.5% is probably acceptable to the government and we do think that means the policy matters that we see will be a little bit more than what we expect last year. more than what we expect last ear. , , ....
And what that means domestically for china is that in the past, as you said, we have enjoyed growth in the double digits and a lot of that is driven by investment and export and going forward it wouldn t be as much of a growth driver for china wouldn t be as much of a growth driverfor china anymore wouldn t be as much of a growth driver for china anymore so what that means is that china will have to find its own new growth drivers going forward. and hopefully that come from consumption which is where the government expects and hopes that the growth transition model will point to. modelwill point to. now, when it comes to modelwill point to. now, when it comes to the modelwill point to. now, when it comes to the leadership - modelwill point to. now, when it comes to the leadership in i it comes to the leadership in china, there was a big shakeup expected in the team that is handling the economy. much more control from the centre. is that what we have seen so far? yes, a lot of signs ....