Most economies would love to be growing at levels of between 7% and 8%. But for China that rate is relatively pedestrian, and for countries such as South Africa such levels of growth could have a major impact as commodity demand and prices adjust. But China’s President Xi Jinping said last month that officials should not be judged solely on their record in boosting gross domestic product. Many took it as another signal that policymakers are prepared to tolerate slower economic expansion.