China is set to commence “Two Sessions” this week. These include the Chinese People’s Political Consultative Conference, which began today, March 4, and the National People’s Congress, which will begin tomorrow. It's an annual event in China where, among others, the world’s second-largest economy sets annual growth targets, which it had been setting at “around 5%” for the last three years. For this year, the country is expected to set the target between 4.5% and 5%, which would be the first time that the target would be set below 5%.
That said, given China’s mammoth GDP, which surpassed $20 trillion last year, even a 4.5% growth would mean that the country would add the most incremental absolute dollars to global growth.
