www射-国产免费一级-欧美福利-亚洲成人福利-成人一区在线观看-亚州成人

USEUROPEAFRICAASIA 中文雙語(yǔ)Fran?ais
Business
Home / Business / Macro

China economy skeptics should rethink their betting

Xinhua | Updated: 2016-12-19 16:38

BEIJING - It is time for predictions about the coming year, and you are bound to hear more than a few scary prophecies about an imminent economic hard landing in China, triggered by a debt crisis, a bursting property bubble, financial turmoil and more.

It is an easy game, and these China bears have been selling imaginary fears for their own fame and fortune for a long time.

At the start of the year, Chinese yuan devaluation and capital outflows gave rise to market concerns about an upcoming financial crisis.

A well known billionaire investor said "a hard landing is practically unavoidable," while a foreign commercial bank expected China's GDP growth to nosedive to 3 percent this year, and a think tank put China's economy crashing as the main possible crisis with a far-reaching global impact in 2016.

They were all wrong, of course.

The doom-and-gloom scenarios created headlines but failed to emerge. All the assumptions were false alarms. The country's growth rate this year appears set to hit about 6.7 percent -- beating almost all forecasters' expectations.

The current yuan depreciation due to the strengthening greenback has unsurprisingly given rise to a new round of bearish talk on the Chinese economy.

However, the chances of economic chaos are slim. Stability is high on the agenda for China's economic work next year as the tone of the recently concluded economic work conference suggested.

Of course, market worries about a Chinese economic slump are not groundless. Burdened with debt overhangs, excess capacity, a high-leveraged property market, zombie state-owned enterprises and struggling banks, China is prone to being portrayed as the next victim of a crisis.

Such fears are overblown and based on outdated rationale. China doubters believe there is good reason and related history for the crashing of the Chinese economy, but the world's second largest economy is just too complicated to predict, due to its unique political, social and financial conditions.

Challenges and crises are not the same. The country's successful steps to cool a red-hot property market and keep the yuan stable this year demonstrate that the government has the administrative and financial resources to address imbalances without a disorderly adjustment.

While China's challenges should not be taken lightly, it continues to make encouraging headway on structural adjustments in its real economy, evident from consumption contributing to more than two-thirds of overall growth, and rapid growth in the services sector.

Most importantly, a China imploding is good for no one. China's economic growth contributed to over 25 percent of the world's total GDP. A sharp slowdown in the Chinese economy will send huge tremors across an already-shaky global economy with troubled trade and financial markets. It will not just be a crisis for China, but a crisis for the whole world.

Turbulent markets are favored by speculators, but the odds of a Chinese economic hard landing are so tiny that China economy skeptics would do well to rethink their betting.

Most Viewed in 24 Hours
Copyright 1995 - . All rights reserved. The content (including but not limited to text, photo, multimedia information, etc) published in this site belongs to China Daily Information Co (CDIC). Without written authorization from CDIC, such content shall not be republished or used in any form. Note: Browsers with 1024*768 or higher resolution are suggested for this site.
License for publishing multimedia online 0108263

Registration Number: 130349
FOLLOW US
主站蜘蛛池模板: se94se欧美| 成人毛片免费观看视频在线 | 欧美一区二区三区在线观看 | 日本精品一区二区三区在线视频 | 性色网址 | 国产黄色在线网站 | 亚洲成人高清在线观看 | 波多野结衣一区二区三区88 | 欧美aav| av在线手机播放 | 欧美一级毛片免费高清的 | 久久国产精品歌舞团 | 黄色片三级网站 | 中文国产成人精品久久无广告 | 欧美成人精品久久精品 | 国产真实乱子伦精品 | 九草视频在线观看 | 久久综合中文字幕一区二区三区 | 黑人巨大videos极度另类 | 18视频免费网站 | 韩国精品一区二区三区在线观看 | 女人张腿让男桶免费视频网站 | 日韩在线视频免费 | 偷自拍 | 国产伦精品一区二区三区网站 | 欧美一级级a在线观看 | 亚洲国产精品一区二区不卡 | 97视频免费观看2区 97视频免费上传播放 | 黄色日韩网站 | 免看一级a毛片一片成人不卡 | 国产成a人片在线观看视频 国产成版人视频网站免费下 | 成人午夜久久 | 91福利精品老师国产自产在线 | 99久久免费国产精精品 | 成人18免费网站 | 一区二区三区视频在线 | 亚洲国产精品久久久天堂 | 俄罗斯三级毛片 | 中文字幕亚洲欧美 | 综合在线视频精品专区 | 欧美国产成人免费观看永久视频 |