ceciliazhang Post time 2019-3-2 10:23:55

Is China's economy slowing down?

Editor's Note: Laurence Brahm is a lawyer, policy adviser, filmmaker and social enterprise pioneer. The article reflects the author's opinion, and not necessarily the views of CGTN.In 2018, China's GDP growth came in at 6.6 percent, arguably the lowest in more than two decades. This has been rattling global markets. Westerners are afraid: Is China's economy going to slow down? And will it bring down Western economies with it? I think we have to look at this differently.
The 6.6 percent growth should be a lower amount of growth. This is not about the volume of growth. It's about the quality of growth. We have to understand that for decades China has had double-digit growth. Much of this has been driven by fixed asset infrastructure investment to create roads, rails, systems and new cities across the country.
And we have to also understand that enough is enough. Because of excessive lending, China has been going through a de-leveraging process over the past few years to clean up bad debts. There has been an anti-corruption campaign against the misuse of funds. And all of this has had an effect in not only contracting the economy but also in creating a healthier and more stable economy.
Moreover, they are changing consumer patterns in China. Before, people went to shopping malls and shopped outside. Now, with online shopping, pre-shopping, you have a whole restructuring of the nature of the retail business, which, of course, is affecting the real estate industry. And all of this is contracting.
With new consumer patterns, new living patterns and a de-leveraging process taking place to create an economy that is less debt-dependent internally, we are now looking at a healthier, stronger and more resilient economy in the long term.
Environmental protection is key to this. Despite the high growth rates that presumably create jobs and bring people happiness, the reality is that environmental concerns –air quality, food quality, water quality and health – are priorities to people, requiring growth to be re-thought of not only in terms of quantity but also quality.
So 6.6 percent is not something we should be worried about by any standard in the world. It is still a high growth rate. But what is most important now is that we have healthy, solid growth. That growth that is looking not only at industrial output, but also looking at the environment, healthcare and social wellbeing. And in that respect, I think we are looking at a more ecological GDP – a GDP that is going to be better for the sustainability of China and the world.

Boston101 Post time 2019-3-2 21:48:37

Yes; China's economy is slowing down. Chinese factories are being shuttered, their people are being laid off. Now that Trump has walk away from the Jin San Pan talks, what makes you think he won't walk away from the current US/China trade talks?

SEARU Post time 2019-3-3 09:50:43

Boston101 Post time: 2019-3-2 21:48 static/image/common/back.gif
Yes; China's economy is slowing down. Chinese factories are being shuttered, their people are being  ...

China economy will firmly go ahead even without Trump who acts as an old kid on political stage! :victory:

Boston101 Post time 2019-3-3 19:51:43

SEARU Post time: 2019-3-3 09:50 static/image/common/back.gif
China economy will firmly go ahead even without Trump who acts as an old kid on political stage! : ...

I'm sure it will go ahead; but after how long of a downturn? It doesn't matter what you think about Trump. The world now recognizes the level of cheating China has been doing. Markets will shift, new economies will sprout. In the meantime, how long will the average Chinese put up with the downturn?

emanreus Post time 2019-3-4 12:20:39

Boston101 Post time: 2019-3-3 19:51 static/image/common/back.gif
I'm sure it will go ahead; but after how long of a downturn? It doesn't matter what you think abou ...

re:   how long will the average Chinese put up with the downturn?

  Hmm, in my watering hole them factory operators make me tired to listen to their stories how difficult it's to hire workers...

SEARU Post time 2019-3-4 16:40:05

Boston101 Post time: 2019-3-3 19:51 static/image/common/back.gif
I'm sure it will go ahead; but after how long of a downturn? It doesn't matter what you think abou ...

The airplane of China economy has got into normal-growth-state after taking off from the horizon-linne at high price of an large oil-consuming that process has cost us such a long time since 1979!  I think it is unreasonable for a country to increase the economy at double-digital rate! I feel comfortable for the current process on construction: Everyone enjoy bright sunshine, fresh air with green river flowing aside! All  Chinese are working hard to innovate  new methods for steady movement on happiness!

Kevinfly Post time 2019-3-8 13:53:09

We have had two digital-growth for decades, it is great to China. But we can forget that coursed a lot of pollution and destroyed environment a lot.
So China has to keep balance between GDP and people's happiness. So I think 6.6 is acceptable.
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