It’s a Rose of Sharon, Hibiscus syriacus. Cut it as much as you want, they’re REALLY tough. You can shear it into a ball or trim and shape carefully, your choice.
Yes it will get quite a bit larger, given time. I have one that is about 15’ tall. It’s probably 40 years old though. You can keep it within bounds by cutting it back in the late winter to close to the size you want and then again in mid summer. Still, expect it to about double in size within 10 years.
Yes it is. They can be coppiced to keep them smaller, although that will delay blooming a month or two. You get bigger flowers and leaves and long straight stems. A completely different look.
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