Glass half full, not half empty

Alarm over slower growth fails to recognize the painful changes made to shift toward a more sustainable growth pattern

Media fanfare about China's economic slowdown, though somewhat exaggerated, shows the high hopes that global investors have pinned on the world's second largest economy, especially with the United States and Europe still struggling with their debt problems.

Before China released its growth figures for the first half of the year on Friday, Western media like the Wall Street Journal pointed out that growth in China is expected to slow to its lowest rate since the global financial crisis. Moreover, the newspaper suggested that the true picture could be even worse.