The Chinese Government’s Efforts to Reorient the Economy Has Unintended Consequences
The government’s efforts to reorient China’s economy from export- and investment-driven growth to consumption- and services-driven growth is proving difficult to manage, creating upheaval in the all-important infrastructure and housing market. This may have caused a contraction in Chinese lubricant consumption in 2012. This is a unique event for the lubricants industry. What caused this