China's Economy Depends on Its Politics

The news that Chinaâ??s gross domestic product grew 7.5 percent from April to June -- down from 7.7 percent in the first quarter -- has provoked fewer gasps of horror than one might have expected. Chinese officials have been talking down the importance of the number for days. The mainland economy might ultimately grow 7 percent this year instead of at its usual double-digit rate, theyâ??ve hinted. Nothing to worry about.