Confidence holds against claims of speculators who try to create panic

GEORGE SOROS, who claimed he was seeing a hard landing for China at the World Economic Forum in Davos, Switzerland, last Thursday, had made the same prediction several times in the past. Doomsayers about China are intentionally trying to create panic to snap up profits as much as possible, Xinhua News Agency commented on Wednesday:

Far from some speculators' claims, China is not a source of trouble but an important engine of global economic growth with its growing demand and investment.

The world economy is having trouble because of the sluggish growth and slow recovery of many economies. The monetary policies of the US Federal Reserve and the expansion of government debt are the original sources of the problems.