The Monday Briefing - Chinese Rebalancing

China's growth story is nothing short of spectacular.

Since 1980, its economy has expanded at the average rate of 10% a year - a pace that is unthinkable in the developed world. 

Such rapid growth means the Chinese economy is now 25 times bigger than in 1980 and employs almost twice the number of people. Last year, China overtook the US as the world's largest economy measured on a purchasing-power-parity basis.

Yet the fastest period of China's growth has passed. Last year China grew at the slowest pace in 24 years.

Concern about the pace of China's slowdown and its possible implications for the global economy have unsettled financial markets in recent months.  Most economists believe that the deceleration in Chinese growth will be modest. According to the IMF, China will continue to outpace its developed-world rivals throughout this decade.