Experts see a light at the end of economic tunnel

The global economy has bottomed out and there is already "light at the end of the tunnel," according to Fan Gang, chief fellow, China Centre of International Economic Exchanges (CCIEE), a leading think-tank.

For the renowned economist, it was wrong on the part of his fellow peers to use terms like "unprecedented" or "severest in a century" for the economic crisis.

"In fact, we (the world) have successfully avoided the happening of such long recession after 1929-33 financial crisis despite that some economies are not recovering as fast as expected," Fan told Hong Kong-based Phoenix TV on the eve of the Global Think Tank Summit in Beijing.