News / Asia

Economists Optimistic About China’s 2013 Outlook

Women push babies in prams through a Beijing park during a public holiday, April 5, 2011.
Women push babies in prams through a Beijing park during a public holiday, April 5, 2011.
Larry Freund
— Some leading economic specialists on China are optimistic about that country’s outlook for the coming year. 

Several Chinese economists, speaking at a forum at the New York Stock Exchange, were optimistic about China’s economy in 2013.  They forecast a growth rate of 8 to 8.5 percent, somewhat better than last year’s rate.

“China still has a great potential to maintain dynamic economic growth, but as a developing country and a transitional economy, China certainly faces many challenges to tap into the potential," said World Bank former chief economist Justin Yifu Lin, who is a professor at the National School of Development at Peking University. "But I am confident the leadership in China, they understand the challenges.”

Lin said the major economic challenges facing China’s leadership are the issues of income distribution and corruption.  Together, he warned, they can cause all kinds of social resentment.  He said China will carry out what he described as “marginal reform.”

“Marginal reform certainly means it may not be as rapid as you hope, but cumulatively I think China has moved a long distance from the planning economy.  China is very close to a well-functioning market economy,” Lin said.

Another forum speaker was China International Capital Corporation chief strategist Huang Haizhou, who said China is entering 2013 in a good position, with low budget growth and low inflation.

“In addition, China has a rapidly expanding consumer market, and China has a tradition of prudent management of public finances, so they have the fiscal power if needed to keep the economy growing,” he said.

Huang predicted China’s economy will remain resilient, even if faced by stress in other global economies.

You May Like

Video On the Scene: In Gaza, Darkness Brings Dread and Death

Palestinians fear nighttime raids, many feel abandoned by outside world, VOA's Scott Bobb reports More

African Small Farmers Could Be Key to Ending Food Insecurity

Experts say providing access to microloans, crop insurance, better storage facilities, irrigation, road systems and market information could enable greater production More

University of Michigan Wins Solar Car Race

Squad guided its student-designed solar-powered vehicle to fifth consecutive time victory in eight-day bi-annual American Solar Challenge More

Featured Videos

Your JavaScript is turned off or you have an old version of Adobe's Flash Player. Get the latest Flash player.
Vietnamese Staging Chinese Product Boycott After Oil Rig Spati
X
Reasey Poch
July 28, 2014 7:18 PM
China recently pulled an oil rig from an area of the disputed South China Sea that Vietnam also claims. Despite the action, the incident has had a lingering effect on consumers in Vietnam. VOA's Reasey Poch reports from Hanoi on an effort to boycott Chinese products.
Video

Video Vietnamese Staging Chinese Product Boycott After Oil Rig Spat

China recently pulled an oil rig from an area of the disputed South China Sea that Vietnam also claims. Despite the action, the incident has had a lingering effect on consumers in Vietnam. VOA's Reasey Poch reports from Hanoi on an effort to boycott Chinese products.
Video

Video ESA Spacecraft to Land on a Comet

After a long flight through deep space, a European Space Agency probe is finally approaching its target -- a comet millions of kilometers away from earth. Scientists say the mission may lead to some startling discoveries about the origins of the water on earth. VOA’s George Putic has more.
Video

Video Young Africans Arrive in US for Leadership Program

President Barack Obama's Young African Leadership Initiative has brought hundreds of young Africans to the United States for a six-week program aimed at building their knowledge and skills in fields such as public administration and business. Out of the 50,000 young Africans who applied for the program, just one percent was accepted. VOA's Laurel Bowman caught up with some of those who made the cut and has this report.
Video

Video In Honduras, Amnesty Rumors Fuel US Migration Surges

False rumors in Central America are fueling the current surge of undocumented young people being apprehended at the U.S. border. The inaccurate claims suggest the U.S. will give amnesty to young migrants from the region. As VOA's Brian Padden reports from Honduras, these rumors trace back to President Obama's 2012 executive order to halt deportations for some young undocumented immigrants already living in the United States.
Video

Video Students in Business for Themselves

They're only high school students, but they are making accessories for shoes, fabricating backpacks and doing product photography - all through their own businesses. It's the result of a partnership between a non-profit organization that teaches entrepreneurship and their schools. VOA's Mike O'Sullivan and Deyane Moses met the budding entrepreneurs near Los Angeles.
Video

Video Astronauts Train in Underwater Lab

In the world’s only underwater laboratory, four U.S. astronauts train for a planned visit to an asteroid. The lab - called Aquarius- is located five kilometers off Key Largo, in southern Florida. Living in close quarters and making excursions only into the surrounding ocean, they try to simulate the daily routine of a crew that will someday travel to collect samples of a rock orbiting far away from earth. VOA’s George Putic has more.

AppleAndroid