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Domestic demand comes alive
China's shift to consumption-led growth was part of a dramatic change that would offer "fantastic opportunity" to the developed world, said Stephen Roach, former chief economist at Morgan Stanley.
The nation's economic engine was shifting gears from being a producer of exports to being a consumer providing demand for the rest of the world, said Roach, now a senior fellow at Yale University's Jackson Institute of Global Affairs.
"2015 could well be the year when China demonstrates that it is very much in control of its destiny -

"The domestic demand story is about to come alive in a way we have never seen."