Given the opaque structure and workings of China’s government, it is difficult to discern who is ultimately responsible for policies and decisions. That the country appears set to engineer a soft landing to its rampant and possibly over-heating economy, deserves the thanks and praise of the world.
In the past three years, China has accounted for up to a third of global economic growth, which means any sharp slowdown there would be felt acutely throughout the world. But who should be congratulated for the feat of gently reining in the giant?