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中国副主席称无需担忧中国经济增长【Financial Times】

时间:2019-10-11 来源:笑哥聊影视娱乐

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China economic chief rebuffs growth concerns

China’s top economic official has dismissed mounting fears that decades of breathtaking expansion was beginning to falter in the face of a US trade war, insisting “sustainable growth” in his country would be maintained.

Wang Qishan, China’s vice-president, acknowledged there were risks facing his and other big economies, including “unilateralism, protection and populism”, an apparent reference to US president Donald Trump’s trade policies.

But he insisted China’s growth rate in 2018 of 6.6 percent, which slowed to its lowest level in almost three decades at the end of last year, was still “a pretty significant number, not low at all”. He added that while “speed does matter”, it was the “quality and efficiency” of growth that was more important.

“There will be a lot of uncertainties in 2019, but one certainty is that China’s growth will continue and be sustainable,” Mr Wang told the World Economic Forum in Davos, indicating that his government would pull out all the stops to maintain the many years of growth since the nation opened itself up to commerce in the 1980s.

Mr Wang’s comments came as new evidence emerged that the slowdown in China, which last week disclosed that its economy grew at an annual rate of just 6.4 percent in the fourth quarter, was continuing to reverberate internationally. Japan yesterday reported that its exports last month shrank at the quickest pace in two years as shipments to China tumbled. The year-on-year drop of 3.8 percent after two months of growth was twice as bad as economists’ forecasts.

Japanese exports to Asia shrank 6.9 percent, while those to China, Japan’s largest market in the region, fell 7 percent and shipments to Hong Kong and South Korea were down 17.3 percent and 11.6 per cent, respectively. Shipments to the US, Japan’s largest market globally, rose 1.6 percent.

Other countries in the region whose exports shrank in December include South Korea, Indonesia, Thailand and Singapore. The drop in Japanese exports to China was driven by falls in chipmaking machinery and communications equipment in the wake of the US-China trade dispute and Washington’s complaints to Beijing over technology transfers.

After its meeting this month, the Bank of Japan also revised down its forecasts for inflation on a weakening global outlook for prices.

Shinzo Abe, Japan prime minister, told reporters in Davos: “My strong hope is that the US and China will have a rational conclusion of their engagement at the end.

“For Japan, China has been the largest trading partner, and the current situation is that we do recognise that there are issues that we would like to see China addressing and resolving.”

Mr Abe added: “The key is not to try to resolve these issues through bilateral trade measures, but rather utilising the international rules.”

Chinese data indicated that while the US-China trade war was hurting corporate and consumer sentiment, Beijing’s crackdown on debt-fuelled growth was the primary reason behind the slow-down. UBS has estimated Chinese banks sold off $258bn in poor-quality loans last year, the highest amount in nearly 20 years.

Mr Wang said the west should recognise that Beijing had bailed them out of their difficulties by stimulating its economy after the global financial crisis.

Asked specifically about trade talks, he said the US and China’s relationship was mutually indispensable. “Confrontation harms the interests of both sides,” he said. “That is a basic judgment.”

Financial Times / 613 words / Jan 25 2019

 

 

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