Is China really the cause of sluggish global growth?

China's policy-makers blame structural problem in the West for global malaise

It was not a particularly auspicious start to the new year in either the Gregorian or Chinese calendars.

Persistent gloom about the prospects for global growth cast a pall over financial markets, with energy and banking stocks particularly hit. Emerging market currencies continued to come under pressure as short-term investors shied away from developing markets. The temptation for central banks to intervene using their foreign exchange reserves is strong. But as South African Reserve Bank

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