Quotable

"China is on a march to a higher-income, highly productive, highly innovative economy and society... Based on my studies of numerous cases of the middle-income transition, I think it's fair to say that a 6 to 7 percent sustained transition through the middle income would be a new normal success."

Michael Spence, US economist and winner of the 2001 Nobel Prize in economics

(China Daily European Weekly 02/13/2015 page3)