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China economy to rebound in 2010 [Copy link] 中文

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Post time 2009-2-1 09:56:33 |Display all floors
Updated: 2009-01-30 15:00

China's economy is to witness a robust rebound in 2010, with its GDP growth topping 8 percent, said Stephen S. Roach, chairman of Morgan Stanley Asia Limited, in an exclusive interview with Xinhua on Thursday.

He predicted that in the first half of this year, China's GDP (gross domestic products) growth would be below 8 percent, but China's economy was expected to pick up in the second half.

That is because China has been tied closely with the global economy and does not get special relief from the global shock, he explained.

The main driving force of China's rapid GDP growth in recent years is export, but now China's export is sliding, Roach said.

Even though Chinese companies are improving their positions and maintaining their competitiveness, there is nothing they could do to stimulate the demand of such countries as the United States, European countries and Japan, he said.

So it is the negative foreign environment that has impacted China's GDP growth, he added.

Roach believes that this year is the worst year for the global economy since the end of the second world war, but China's economy will be much better than those of many other countries in the world.

In addition to increasing spending on infrastructure, he suggested that China expand dramatically investment in social security, pensions, unemployment insurance and health care.

In his view, the most important thing for China to do now is to focus on domestic consumers.

As of banking bailout plans taken by many governments, he said China's banking system was in a better shape, because the banks did not invest a lot in illiquid assets and subprime mortgage.

Chinese banks, however, still face challenges because of the business cycle, he warned.

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Post time 2009-2-1 13:03:15 |Display all floors
That's Stephen S. Roach, chairman of failed financial giant Morgan Stanley, who's trying to sell his East Asia portfolio product.
"Justice prevails... evil justice."

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Post time 2009-2-1 15:11:18 |Display all floors

arched eyebrow

Originally posted by interesting at 2009-2-1 13:03
That's Stephen S. Roach, chairman of failed financial giant Morgan Stanley, who's trying to sell his East Asia portfolio product.

Sounds like you don't agree, eh? When do you expect US economy would rebound then?

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Post time 2009-2-1 16:41:48 |Display all floors
I won't even comment on his predictions. I don't think people should listen to the financial advice of a man who sells financial products. It's like getting car advice from a dealer or asking a drug lord whether cocaine is good for you.
"Justice prevails... evil justice."

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Post time 2009-2-1 22:49:53 |Display all floors

just look at greenspan himself today if you will...

the US has relied on him 4 too many friggin yrs...and now this new player from wallstreet is even worse, Ben Bernanke; just dunno who destroyed the entire jewish financial empire (some said themselves...i dunno do you kno  

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Post time 2009-2-2 11:30:10 |Display all floors

Reply #1 yuan_zcen's post

Mr. Roach is a cockcroach.

ha ha ha

Prime pumping, shortage of assembly workers from now to 2018 is the biggest trend now.
In the unlikely event of Mr. Bar-rack "Ho-a-saint" O-barred-by-Ma  makes silly mistakes in failing to stop falling employment levels in the United States, it would be likely the Amerikan Regime will enter into a DEPRESSION instead of just a recession.

In the East Asian scene, enormous savings in the systems means governments of East Asia can prime pump to maintain employment while urbanization and world wide needs for cheap, low end commodity will continue to drive China and Malaya's growth even it there might be no growth in Japan, Korea, Taiwan, Singapore and Bangkok.

Europe definately will be prime pumping, but the PIGS states (classified by the British Club, Portugal, Ireland, Greece and Spain) who does not quality to be minting states, and should not be in the EU, like the rest of Eastern Europe will suffer with high wages, but an economy structure similar to Malaya. Like i said, EU should only consist of Germany, France, Italy and the low states as this are RICH STATES and can afford high currency values, with investment available to wipe out defisit imports.

Green DRagon
Game Master
Fu Loke Sau

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Post time 2009-2-4 10:25:07 |Display all floors
Stupid prediction.
The economy in the mainland still is in the abnormal developing model and unreasonable structure.
The growth of economy in the mainland is based upon cheap labour , wasting resource and low technology.
The government in the mainland still did not grasp the core of sustainable development  during the period
of reform and opening-up in the past 3 decade.
Please ignore the flatter and encomium from foreign counterpart
Thank you very much for your introduction bro.

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