China - Local governments are downgrading their economic growth targets for 2015
- 29 out of the country's 31 provinces lowered this year's GDP growth goals
- 12 have cut by 2 to 3%
- Shanghai hasn't set any growth target at all for 2015
- Liaoning province (with the local economy based on resources and heavy machinery) had the slowest GDP growth rate of 5.6% among all provinces in 2014 ... well below its target of 8.8%
From the China News Service (via MNI)