As even the most casual observers are no doubt aware, China’s transition from investment to consumption-led growth is one of the major reasons why global demand and trade remain stuck in low gear seven years after the crisis. Indeed, the massive overbuild that occurred in the lead-up to 2008 was a direct result of the pervasive (and exceptionally naive) assumption that Chinese demand and the double-digit GDP growth that stood behind it would persist in perpetuity.