Why is China obsessed with 8% economic growth? Is it truly to maintain social stability or is it mainly political? Justify your answer

The economic growth of China since 1990 had changed the climate of the country. The economic growth is properly utilized for the common people. The control of population is also added to the benefit of the common people. Not only are the people of Town, but also the people of villages are benefited when the economic growth was above 10%. But due to world recession the growth rate has come down reducing jobs. Now for social stability the growth rate is maintained above 8%. The situation of economic growth is floating, so the fact is partially true or partially false.

The short answer to that would be that China quite simply has no option but to be obsessed with and ensure 8% growth at a minimum.  Why does China need 8% growth you ask?  Well, over the past decade or two,... keep reading →