China diversifies economic approach to emerging countries, global economist says

When commenting on China's economic development model, Moyo said it is clear that over the past 30 to 40 years, China has done a lot of things right by investing in infrastructure, education and goods and services for exports that helped fund a lot of local development in China.

"So far in terms of what it is doing in allocating capital into important areas it has done a good job, as education, infrastructure are very fundamental areas to spur growth," Moyo said.

China's opening-up has definitely helped drive economic growth in the country, Moyo said, adding that China has especially benefited from joining the WTO, being able to export a lot of goods and services around the world.

Recalling Chinese President Xi Jinping's speech about the importance of globalization and being open to trade at the World Economic Forum in 2017, Moyo said she believes in globalization, and that trade is a critical driver of economic growth and she hopes the United States and China can quickly resolve their trade disputes.

"Some of the great concerns people have about the Chinese economy is about whether it can continue the speed of economic growth," Moyo said.

The IMF and other institutions have recently downgraded global growth, including the growth in Europe and emerging economies, she said.

"Countries need to grow at least 7 percent a year in order to double per capita income in one generation. Obviously China is not growing at that rate and most countries are not growing at that rate, which is a concern for the global economy. The fact that China is growing at 6.5 percent is actually very good on a relative basis," she said.

Moyo noted the Chinese government has repeatedly highlighted the restructuring of its economy to transform it from being export-led towards domestic consumption-driven.

To further improve its business environment for foreign investment, China can increase transparency, consistency of rules, taxes and regulation, and most importantly ensure a good macro environment, said Moyo.

"If people feel like there is a continual good policy that can drive economic growth and they can continue to build on the middle class and China's success, that is also good news. And people feel much more comfortable about investing in China," she said.