, Columnist
Why China’s Heading for a Hard Landing, Part 4: A. Gary Shilling
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Past performance, in China’s case,may be indicative of future results.
In late 2007, the Chinese government was scrambling tocontrol a capital-spending boom. The central bank was concernedabout 11 percent growth in gross domestic product, far above itsofficial target of 8 percent, and about money flooding in fromexports and direct foreign investment.