Latest News:  
Beijing   Cloudy/Overcast    2 / -4   City Forecast

People's Daily Online>>China Business

China Voice: China slows, but still engine of world growth

(Xinhua)

08:52, January 18, 2012

BEIJING, Jan. 17 (Xinhua) -- China's economy is slowing, but not necessarily in a bad way.

The latest official statistics declared the country's 2011 Q4 growth the slowest in 10 quarters at just 8.9 percent, and the whole year GDP growth stood at 9.2 percent.

The downshift was partly caused by economic crises in Europe and the U.S., but was also desired by policymakers who sought to cool down the country's property market.

China's economy seems to have been forging ahead forever: it expanded by 9.2 percent in 2009, 10.4 percent in 2010 and 9.2 percent in 2011, when the West was struggling to avoid a recession.

But no growth lasts at such dizzying speeds. For the reform-minded economic architects in China, slower, more balanced growth may bring about a happier ending.

Even when the Chinese engine is downshifted, it still has the power and potential to drive the world economy. Those who expect a hard landing or even a meltdown of China's economy this year will be quite disappointed.

With a population of 1.3 billion, China will not see its demand for investment and consumption drying up in the foreseeable future, helping to offset export slumps.


【1】 【2】 【3】

Email|Print|Comments(Editor:燕勐)

Leave your comment0 comments

  1. Name

  

Selections for you


  1. Diego Maradona attends charity activity in Shanghai

  2. Village on the way from Shandong to Northeast

  3. Service stations set up for migrant workers riding home

  4. Italian Navy divers speed the search for survivors on cruise liner

Most Popular

Opinions

  1. Actions speak louder than words
  2. New driving force for East Asian cooperation
  3. In love with luxury amid global gloom
  4. China should take fight to US over Iran
  5. How will HK go through economic difficulties in 2012
  6. US dollar is just a dirty shirt
  7. Factors affecting world economy in 2012
  8. Why Russia's aircraft carrier visits Syrian port
  9. Central grain reserves turn into 'market stabilizer'
  10. A priority for Asia-Pacific shift

What's happening in China

Half of 500m Web users are microbloggers

  1. Railway police flex muscles against theft, fraud
  2. Shelter means hope for trapped miners
  3. CCDI says microblogs help fight corruption
  4. Beijing boosts responses in crisis zones
  5. Auto industry’s growth in 2011 slowest in 13 yrs

PD Online Data

  1. Yangge in Shaanxi
  2. Gaoqiao in Northern China
  3. The drum dance in Ansai
  4. Shehuo in Baoji City
  5. The dragon dance