China Lowers Economic Growth Target to 7.5%

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March 5 (Bloomberg) -- China pared the nation’s economic growth target to 7.5 percent from an 8 percent goal in place since 2005, a signal that leaders are determined to reduce reliance on exports and capital spending in favor of consumption. Officials will also aim for inflation of about 4 percent this year, unchanged from the 2011 goal, according to a state-of-the-nation speech that Premier Wen Jiabao delivered today. Margaret Conley reports on Bloomberg Television's "First Look" with Caroline Hyde. (Source: Bloomberg)

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