A People's Daily Online Original Production | Producer/Anchor: Li Zhenyu | Special Advisor: Shi Mingshen
A People's Daily Online Original Production | Producer/Anchor: Li Zhenyu | Special Advisor: Shi Mingshen
For the past few decades, China's marvelous economic growth, faster than any large economy in human history, has dazzled the world. But today, in a time of global recession, the country is facing a challenging economic test.
Why bother to pay attention to the Chinese economy? What will China's economic prospect look like? Is there a crisis looming for China's economy? Is China's slower growth really bad for the world economy?
To find the answers to these questions, we invited six world-renowned economists and business leaders -- former chairman of Morgan Stanley Asia/Morgan Stanley chief economist Stephen Roach, Fortune magazine managing editor Andy Serwer, dean of the George Washington University School of Business Doug Guthrie, Moody's senior vice president Thomas Byrne, the World Bank lead economist John Wilson and Chatham House research director Paola Subacchi -- to join our discussions on China's current economic issues.
China grows, and the world prospers.
The world's biggest growth story has slowed in nine of the past 10 quarters. The Chinese government has said it will tolerate slower growth to push reform.
China's top economic planner has expressed confidence in keeping steady growth of the world's second largest economy in the latter half of this year, despite the highly complicated domestic and international conditions.
But, the question here is, why does a foreigner bother to spare some time out of his hectic schedule for a look at the Chinese economy? [More] [中文]
China has huge growth potential.
Although the Chinese government has expressed confidence in achieving the 7.5 percent GDP growth target this year, several Western investment banks and economists have in recent weeks revised down their growth forecasts for China, with the more bearish ones falling below 7 percent.
But according to John Wilson, lead economist at the World Bank, a closer look at China's growth potential tells a different story. [More] [中文]
China's economic muscles are strong.
China's economy may be cooling somewhat from its three decades of blistering growth, but will this process get out of control and morph into some kind of a much sharper scenario? Will there be a crisis or hard landing looming as some China doubters touted? How to candidly assess the current state and outlook for the Chinese economy?
Thomas Byrne and Doug Guthrie, two world-renowned economists and veteran China watchers, recently shared with me their takes on these questions. [More] [中文]
Is China's official trade data credible?
The latest Chinese official data shows China's economy is picking up, with exports and imports rebounding with a speed above expectations in July. The country's surging trade growth is now in the spotlight.
The sharp trade data rebound for July has generated a debate in the West over the reliability of China's official data. Thomas Byrne, senior vice president at Moody's, one of the world's three major credit rating agencies, recently aired his opinions on this issue. [More]
China and world economy are intertwined.
China has long been the engine of the world economy. But in a time of global depression, the country's growth rate has cooled down compared with the sizzling double-digit growth the country enjoyed for much of the past three decades. China's current economic figures have garnered a lot of attention recently.
Is a slower growth good or bad for China and the world economy? How to see China's current GDP, and what is the real meaning behind the GDP figure? [More] [中文]
A turning point in China's development path
China is now at an important juncture in its development. Decades of double-digit growth have become unsustainable for the rising economic power, which has triggered a host of issues concerning China's economic transformation.
Joining our discussion next on China's consumption transition are J.P. Morgan managing director Jing Ulrich, former chairman of Morgan Stanley Asia Stephen Roach, dean of the George Washington University School of Business Doug Guthrie and the World Bank lead economist John Wilson:
