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Beijing promises an investment deal by next year, to curb industrial subsidies and the need for tech transfers, while the EU promises its own transport network

Building things—roads, airports, train lines and the like—has long been a staple of China’s economy. Now, headline investment growth levels are stalling. That’s worrying enough. The situation behind the figures is, perhaps, even scarier. China’s year-to-date investment growth in May slowed to 6.1%—the lowest since the mid-1990s. Even that weak figure is misleading, because a […]