China’s censors were busy with the corrector fluid over the weekend. Finance minister Lou Jiwei’s comments last week at a news conference that China was aiming for 7 per cent growth this year were quickly edited to read 7.5 per cent – bang in line with the current official target. The fact that China’s gross domestic product growth slowed to 7.5 per cent in the second quarter, from 7.7 per cent in the first, and looks set to slow further, suggests that Mr Lou’s words were indeed a Freudian slip. Beijing now has a job on its hands to ensure that this slowdown does not turn to a rout.
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