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Archive for the tag “Hard landing”

Xi Says China Will Not Experience A ‘Hard Landing’

China will continue to grow at a sustainable rate, and will not experience a hard landing, Chinese President Xi Jinping said in London. “China will not close the door it has opened. We are working to build a new system of an open economy and we will make renewed effort to make an open world economy”. In the next five years China is expected to import more than $10 trillion of goods, have more than $500 billion of overseas investment, and more than 500 million Chinese tourists will be expected to travel abroad, which presented enormous business opportunities, he said.

Read Here – China Daily

Li Says Resilient China Remains Source Of World’s Growth

Premier Li Keqiang says that China’s economy remains a source of the world’s growth thanks to people’s zest for innovation, entrepreneurship and stronger international cooperation. China’s confidence is well-grounded and not “blind optimism,” the premier said in a speech at the World Economic Forum’s event in northeast China’s Dalian, known as Summer Davos.

Read Here – Xinhua

Xi’s Wise Men

Past Chinese presidents have left the finer points of the economy to their premiers. Not Xi Jinping.  Since taking over the ruling Communist Party in November 2012, Xi has given himself direct control over both short-term financial policies and broader economic planning. He exercises this power through two secretive “leading groups,” one a reform panel of his own creation and the other a financial committee recently led by premiers.

Read Here – Bloomberg

Slowdown In China Is Pushing World Towards New Crisis

A hard landing in China could expose a large number of countries to unforeseen consequences and dash hopes of a global recovery. China’s plight also drives the final nail into the coffin of the once fashionable theory of “decoupling”, which argued for an autonomous economic sphere around China that could soar even as the US economy went into a tailspin.

In the dark days of 2008-09, following the collapse of major financial institutions, China stood out as a beacon of hope, the biggest engine of global growth. Buoyed by Beijing’s $586-billion economic stimulus package in November 2008, the Chinese economy bounced back and was soon growing at its customary 8 per cent clip.

Read Here – The Nation, Bangkok

New Waves Of Urbanization And Re-balancing Of Industries Will Sustain China’s Economic Growth, Argues Stephen S. Roach

Concern is growing that China’s economy could be headed for a hard landing. The Chinese stock market has fallen 20 percent over the past year, to levels last seen in 2009. Continued softness in recent data – from purchasing managers’ sentiment and industrial output to retail sales and exports – has heightened the anxiety. Long the global economy‘s most powerful engine, China, many now fear, is running out of fuel. These worries are overblown. Yes, China’s economy has slowed. But the slowdown is contained, and will likely remain so for the foreseeable future. The case for a soft landing remains solid.

Read Here – China Daily

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