Arab Today, arab today china well equipped to forestall sharp slowdown
Last Updated : GMT 08:44:49
Arab Today, arab today
Arab Today, arab today

China well equipped to forestall sharp slowdown

Arab Today, arab today

Arab Today, arab today China well equipped to forestall sharp slowdown

Chinese economy
Beijing - XINHUA

There has never been a shortage of naysayers predicting an impending collapse of the Chinese economy. But not one of the predictions has proven true, and it will be no different this time.
With a host of key growth indicators at their lowest points for a number of years, Tuesday's release of the HSBC flash manufacturing purchasing managers' index, which fell to an 11-month low and came in below even pessimistic forecasts, has spurred a new wave of pessimism.
Such dire predictions, as always, fail to allow for policy makers' room to maneuver -- first in neutralizing the catalysts for a collapse, and then in limiting the damage even if occurs.
Although China's headline growth slowed to its lowest level in 24 years, the 7.4-percent rise is the envy of most other nations and the economy still enjoys sound fundamentals as job creation and income growth continue apace.
Rather than being the kind of "hard landing" many had forecast, China's slowdown is unfolding largely in a manageable way. Senior officials are relatively calm and have consistently ignored pressure from the market to launch massive stimulus packages.
A "new normal" of slower growth is a desirable outcome as China seeks to wean the economy off its reliance on exports and state-directed investment and instead encourage private sector growth and consumer spending to ensure sustainable expansion in the long run.
Taking into account the unique features of China's economy, it is not hard to conclude that it is almost impossible for the economy to nosedive, because the Chinese government won't let it happen -- for reasons as diverse as ensuring social stability, maintaining market confidence and guaranteeing fiscal revenue growth to force through reforms.
Policy makers have the firepower to avert a hard landing and would not hesitate to intervene if the slowdown caused widespread unemployment or a drop in citizens' incomes.
In the short term, policy makers could employ mini stimulus measures, such as reserve requirement ratio and interest rate cuts and tax reductions, to ensure growth does not slide below the lower limit of a reasonable range.
Plans are also in place to engineer longer-term development. Comprehensive reform and three major strategies -- construction of "Belt and Road" Asian trade infrastructure, coordinated development of the Beijing-Tianjin-Hebei region, and development of the Yangtze River economic belt, are designed to unleash potential for future growth.

arabstoday
arabstoday

Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

Arab Today, arab today china well equipped to forestall sharp slowdown Arab Today, arab today china well equipped to forestall sharp slowdown

 



Arab Today, arab today

Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

Arab Today, arab today china well equipped to forestall sharp slowdown Arab Today, arab today china well equipped to forestall sharp slowdown

 



Arab Today, arab today France defies terrorism through tourism

GMT 15:18 2017 Saturday ,20 May

France defies terrorism through tourism
Arab Today, arab today Zainab Fadel Oglu designs “Shakerin” mosque

GMT 12:13 2017 Thursday ,11 May

Zainab Fadel Oglu designs “Shakerin” mosque
Arab Today, arab today Seeks to move past rift with Israel

GMT 08:00 2017 Monday ,08 May

Seeks to move past rift with Israel
View News in Arabic - Business: اقتصاد دولي
Arab Today, arab today
Arab Today, arab today
Arab Today, arab today
Arab Today, arab today
 
 Arab Today Facebook,arab today facebook  Arab Today Twitter,arab today twitter Arab Today Rss,arab today rss  Arab Today Youtube,arab today youtube  Arab Today Youtube,arab today youtube
arabstoday arabstoday arabstoday arabstoday
arabstoday arabstoday arabstoday
arabstoday
بناية النخيل - رأس النبع _ خلف السفارة الفرنسية _بيروت - لبنان
arabstoday, Arabstoday, Arabstoday