For the first time ever, if China's official figures are to be believed, the country's services sector surpassed manufacturing as a driver of the economy. The fact seems to have escaped widespread attention in the confusion over why gross domestic product dived so dramatically, to 1.6 percent quarter-on-quarter without official warnings.
China Switches to a Service Economy
China Switches to a Service Economy
China Switches to a Service Economy
For the first time ever, if China's official figures are to be believed, the country's services sector surpassed manufacturing as a driver of the economy. The fact seems to have escaped widespread attention in the confusion over why gross domestic product dived so dramatically, to 1.6 percent quarter-on-quarter without official warnings.