Over the past year, China has made countless policy moves to curb runaway inflation, but the current manufacturing slowdown may be more than they may have bargained for.

The People's Bank of China recently lowered its reserve requirement ratio for the first time in two years. Does this mean that China's policy makers will now focus more on economic growth and not inflation?

ECRI's latest in-depth study of the Chinese economy paints a clear picture of its cyclical outlook for both inflation and growth, with important implications for how this latest policy move is likely to impact those respective cycles going forward.