China’s president guided expectations for the economy lower, setting a growth floor of 6.5% as the government navigates a slowdown that has been deeper than expected. China’s recent attempts to boost flagging growth—including six interest-rate cuts over the past year and a parade of announced government infrastructure projects—have blunted efforts to restructure and shift the economy from traditional manufacturing to consumption. “Unfortunately, I fully expect the priority of growth to supersede any reform or rebalancing,” said University of California San Diego professor Victor Shih. President Xi Jinping said the economy faces many domestic and global uncertainties, but a minimum of 6.5% growth is needed to realize Beijing’s goal of doubling people’s average income and the size of China’s economy by 2020 over 2010 levels, according to China’s official Xinhua News Agency. Mr. Xi hinted at a […]