Chinese President Xi Jinping declared that the era of high growth in China is over, noting that the country “doesn’t want to grow too fast” in a speech to the Boao Forum for Asia, The Wall Street Journal reported. Growth in 2012 was the slowest since 1999 due to a weak global economy and Beijing’s policies to limit rapid growth in certain sectors. Xi said that China is looking to rein in growth to sustainable levels and balance economic prosperity with other issues such as environmental protection. “Realizing those goals will bring vitality and strength to China’s economy,” Xi said at the forum in Hainan province.
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