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Congress take note: China’s economy is steered in positive direction

The burst in panic across markets when the Chinese economy had a slight hiccup underscores all that is wrong — and misses all that is right — about looking at the one of the world’s strongest economies through the reactive eyes of what people think may happen and not what actually is happening.

After 30 years of strong and sometimes stratospheric growth, China’s economy today is being steered to focus on strengthening core fiscal foundations to ensure stability and sustainability.

Here is the economic realpolitik that must be embraced: China’s economy will continue to grow — and grow in ways that make its continued economic gains less vulnerable to internal and external disruptions.

This is good for China and has the potential to be good for many other countries, including the United States.

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