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To skeptics: Chinese economy is not gonna collapse
en.people.cn / (People’s Daily Online) 13:31, May 26, 2015
China’s economy has now entered a new normal. The Chinese government is a capablesteward and confident that it can lead the economy to overcome any obstacles that presentthemselves, keep steady and sustainable growth, and become a strong power to supportthe world economy.
The confidence of the government results from an objective assessment of China’sposition. In terms of the economy, though growth has slowed down, the growth rateremains stable and issues of concern such as unemployment, hyperinflation, and debtcrisis have not emerged. Against a base of the 7.4 percent growth rate of last year, China’seconomy had a very steady performance in the first quarter of this year with animprovement in employment and people’s living standards.
In terms of potential, the Chinese economy is still on the rise. China is currently sparing noeffort to promote new models of industrialization, informatization, urbanization,agricultural modernization, and greenification, which will all contribute to new economicgrowth. Tertiary industry is also playing its role well in the development of the economy.
In terms of economic aggregate, China is already the world’s second largest economy. Atits current pace of growth, the annual net growth in China economy equals to the scale of amedium size economy. Its imports and exports, foreign exchange reserves, and foreigninvestment are all ranked No.1 in the world. Hence China’s position as a major enginefueling world economic growth will not change in the foreseeable future.
Hat tip: TheSolution
The post To skeptics: Chinese economy is not gonna collapse appeared first on Silver For The People.
Source: http://silveristhenew.com/2015/05/26/to-skeptics-chinese-economy-is-not-gonna-collapse/
