China's Economic Growth Benefits World Economy: Goldman Sachs

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Last updated at: (Beijing Time) Monday, August 12, 2002

China's Economic Growth Benefits World Economy: Goldman Sachs

Goldman Sachs has hailed China'seconomic growth as a "win-win" for China and the rest of the world,reported the Hong Kong Economic Journal Monday.

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Goldman Sachs has hailed China'seconomic growth as a "win-win" for China and the rest of the world,reported the Hong Kong Economic Journal Monday.

Fred Hu, managing director of Goldman Sachs Asia, told the newspaper in an exclusive interview that financial analysis data showed that China's growth will not threaten other countries.

In the wake of the firm's publishing of its latest report entitled "The Five Great Myths About China", Hu said with China's increasing adoption of market economy, its trade figures are "justanother success story in Asia." He added that China's achievementsshould not be over-exaggerated.

China's speedy economic growth attained in the past 20 years isjust a repeat of the experience of certain Asian countries, he said.

As such, China's high economic growth is not something unprecedented and, therefore, should not be looked upon as a threat to other countries, Hu stressed.

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