China's economic shift 'could spark European revival'

Economist sees move as a happy development

A shift by China from an investment and export-driven economy to a consumption-led model is viewed by a European economist as a move that could help revive the continent.

"I think this would be a happy development for Europe, not only for China," said Paul De Grauwe, former economic policy adviser to the European Commission and professor at the London School of Economics and Political Science.