China spending to cushion slowdown

The mainland's economy has shown resilience and undergone a gradual transition towards being driven by domestic consumption, says Goldman Sachs economist Jim O'Neill.

Speaking during a visit to Hong Kong last week, O'Neill - who invented the acronym BRIC to describe the emerging economies of Brazil, Russia, India and China - said a pickup in a series of leading indicators signalled a soft landing for the world's second-largest economy.

via Business feed http://www.scmp.com/business/economy/article/1090824/china-spending-cushion-slowdown