The short-term economic signals out of China have not been reassuring. Policy makers bungled a stock market bailout over the summer. The central bank made a surprise devaluation of the currency. Growth slipped to its slowest pace since 2009. These developments rattled global markets and unnerved investors. But the bigger question is, what, if anything, has changed in the long-term outlook for China’s growth? Some experts on emerging markets look at China’s sputtering growth rate and see signs of deeper problems ahead. Others are undeterred, taking China’s current economic deceleration in stride. To them, it is a natural and necessary part of the switch to a more sustainable development path. “The last couple of decades were all about ever-faster growth in everything in China, and the next couple of decades will be about slower growth rates in almost everything,” said Andy Rothman, a San Francisco-based strategist […]