Ｃｈｉｎａ’ｓ Ｅｃｏｎｏｍｙ：Ｓｏｆｔ ｏｒ Ｈａｒｄ Ｌａｎｄｉｎｇ？

A global economic recession, ignited by the U.S. subprimemortgage crisis, might be unavoidable in the near future. Inthe meantime, a significant slowdown in China's economicgrowth in the third quarter is posing daunting challenges to thegovernment's macro-control policies. Ha Jiming, Chief Economistat China International Capital Corp. (CICC), recently wrote anarticle in the 21st Century Business Herald about what he believesto be the root cause of China's economic slowdown and how thegovernment can revive the economy, Excerpts follow.