China syndrome: slow growth brings back Beijing's pragmatism

With the Chinese economy projected to grow just 3.5% this year - down from a previous forecast of 3.9%, according to Bloomberg's latest quarterly review - regional investors and foreign businesses in China are increasingly concerned about the risk of prolonged recession in the world’s largest economies. The imminent failure of several housing developers is also being seen as a clear sign that managing a soft landing for the property market will prove difficult for China’s leaders.…