Moderate growth rate

Excessive economic growth will only harm the labor market, leading to rises in pay and the price of agricultural products

Predictably, opinions about the Chinese economy varied after it was announced that the country's GDP increased at a rate of 7.6 percent in the second quarter of the year. Optimists said the rate was even better than expected. Pessimists, though, claimed it was a sign that the Chinese economy is in danger of having a hard landing.

For my part, I believe that a growth rate of 9 percent is a little high for China, that 8 percent is desirable, and, if the rate slows down to 7 percent, that's not a "big deal".