Business / Economy

Telegraph article says no hard landing risk for Chinese economy

(Xinhua) Updated: 2016-02-29 14:50

LONDON - Despite challenges, the Chinese economy will not go downward all the way or have a hard landing as some have feared, according to an article of The Telegraph.

The Chinese economy will bounce back and continue to drive global growth for decades, says the online article on Saturday.

It is true that China's economy is slowing down, but lower growth rate in the country should not be a reason for global concern since the pace of growth is "as much by design as by accident," noted the article, written by British businessman Martin Gilbert, who is the founder and CEO of Aberdeen Asset Management.

Gilbert, who has visited China many times and just attended a Group of 20 meeting in China in the capacity of a board member of the Institute of International Finance, says his personal experiences in China make him believe that the Chinese economy is still in a strong position.

The few problems affecting the overall health of the Chinese economy include local government and corporate debts, bloated state sector and a fragile property market, among others.

However, Chinese policymakers "still have plenty of tools at their disposal to avert economic disasters and to help the country develop," Gilbert said.

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