Former US trade representative says Chinese economy is booming

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Last updated at: (Beijing Time) Friday, October 31, 2003

Former US trade representative says Chinese economy is booming

Former US Trade Representative Charlene Barshefsky has said China's economic growth is the engine of growth for Asia.

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Former US Trade Representative Charlene Barshefsky has said China's economic growth is the engine of growth for Asia.

Barshefsky, who is going to take part in the annual meeting of the Boao Forum for Asia to be held in Hainan province, China, early next month, said earlier this week that the Chinese economy is booming.

With the stagnation of the Japanese economy in the last 12 years, "China's growth was the kind of engine of growth for Asia",she said.

"This is very big change that has implications for Chinese regional diplomacy because China is now exerting a role with respect to regional diplomacy," Barshefsky said.

She also pointed out that there are some challenges in front of China's economic development including banking reform, the income gap between the coastal area and the interior regions as well as the uncompetitive agriculture sector.

On the forthcoming meeting of the Boao Forum, she said that it is a good chance for leaders both of the business communities and governments to exchange ideas, concerns and thoughts about issues facing Asia and the Pacific region as well as the world.

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