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© The Financial Times Ltd 2012 FT and 'Financial Times' are trademarks of The Financial Times Ltd.
David Pilling is the Asia editor of the Financial Times. He was previously Tokyo Bureau Chief for the FT from January 2002 to August 2008. His column ranges
over business, investment, politics and economics.
The wobbly panda won’t fall yet
China still has the firepower to engineer growth, something it badly needs in a year of fraught political transition