President Xi Jinping said to an APEC CEO summit Sunday regarding the possibility of China’s growth rate slowing further and other obstacles that “risks are indeed there but they’re not that scary,” Bloomberg reported. “Even a growth rate of about seven percent will put China among the top performers in the world in terms of both speed and size,” Xi said, calling the slowdown a part of the new normal in China. The weekend also saw Xi promoting the proposed Free Trade Area of the Asia-Pacific (FTAAP), rival to the US-backed Trans-Pacific Partnership which excludes China.
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