Latest News:  
Beijing   Sunny    24 / 12 ℃  City Forecast

English>>China Business

China's economic slowdown, a sign of soft-landing: U.S. experts

(Xinhua)

08:14, September 28, 2012

WASHINGTON, Sept. 27 (Xinhua) -- China's economic slowdown appeared to be heading for a soft-landing, said experts here on Thursday in a forum sponsored by a U.S. think tank.

China's economy "is slowing because of policy efforts to cool investments and to control the housing boom, compounded with external headwinds", said Markus Rodlauer, deputy director of IMF Asia and Pacific Department, in Carnegie Endowment for International Peace, at the forum.

"A large current account surplus (of China), over 10 percent ( of Gross Domestic Product) in 2007 and 2008, has come down to 2.5 percent of GDP," he said.

Accompanied with external rebalance, Rodlauer also acknowledged the risks that China's domestic imbalance grew significantly, which was engineered as a response to global crisis.

"In order to sustain this soft-landing in the next few quarters, in order to keep the economy an even growing at around 7 to 8 percent each year, a package of policies is needed to shift towards more consumption-based and inclusive growth," noted Rodlauer.

Stephen Roach afterwards, a senior fellow of Yale University School of Management, also said "China can and should run a high investment ratio for years, if not decades, especially given their commitment to urbanization, which is a hugely infrastructure- and capital- intensive activity."

In his opening address, Yukon Huang, a senior associate at Carnegie Endowment for International Peace, said "A year and a half ago, you read headlines talking about Chinese overheated economy, property bubble, excessive inflation, over-investment and the need to put on all the brakes to achieve soft-landing. If you picked up headlines today, you hear exactly the opposite, like the concerns about economic collapse."

The intensifying concern reflected how dependent the world had become on China driving the global economy given the protracted problems in the United States and Europe, noted Huang.

He also pointed out that in fact in the depths of the 2008-10 financial crisis China accounted for nearly half of the global increase in demand.

News we recommend:
Toll fee exemption boosts auto rentals GDP may slow for 9th quarter China-ASEAN Expo increases trade volume
Chinese firms ramp up presence in Thailand Chinese go online to buy latest iPhone Chinese winemakers demand anti-dumping
Logistics co-op needed in China, ASEAN  Global yuan use increases Steel producers face bleak months ahead

Email|Print|Comments(Editor:厉振羽、张洪宇)

Leave your comment0 comments

  1. Name

  

Selections for you


  1. Amazing military photos: China's J-10 fighters

  2. North Korea's 'iPad' revealed

  3. New Deal to Boost Consumption

  4. Starbucks in Lingyin Temple triggers criticism

  5. Zhang Ziyi covers OK Jingcai magazine

  6. Spectacular scenery of dusk around world

Most Popular

Opinions

  1. Be vigilant against resurgence of militarism in Japan
  2. Easy times gone for foreign firms in China
  3. Noda gov't in hot water as LDP eyes comeback
  4. White paper makes watertight case for Diaoyu claim
  5. Intl firms should learn from Chinese counterparts
  6. Aircraft carrier brings timely morale boost
  7. Palestine faces difficulties amid Arab upheaval
  8. Theft of Diaoyu Islands risks China-Japan trade ties
  9. Japan defies post-war int'l order, China's goodwill
  10. Tokyo's stance on Diaoyu Islands 'unacceptable'

What's happening in China

Unknown object found in Uni-President milk tea

  1. Officials post their financial information online
  2. Views divided on bid to revise pension system
  3. New high-speed railway spurs debate over prices
  4. Chinese gov't units test-drive green autos
  5. Five detained after fatal Gansu mine accident

China Features

  1. Culture invasion? Starbucks kisses Buddha
  2. Public should enjoy more 'tourism benefits'
  3. Ancient villages face losing their souls
  4. Economic circles key to Sino-Japan relations
  5. How to pan for gold in cultural investment fever

PD Online Data

  1. Ministry of Water Resources
  2. Ministry of Railways
  3. People's Bank of China
  4. Ministry of Health
  5. Ministry of Culture