CrossTalk show at the APEC 2012 meeting from Russia Today : Running time 25.26minutes
Jim Rogers, William Powell from Time Magazine and David Pilling, Asia Editor from the Financial Times discuss the destiny of the Chinese economy. For instance – Are we expecting too much for the Chinese economy when they loudly announced to the world they were slowing down?
Some key areas stood out:
1. Have we gotten too used to China as an engine of growth but it is not in the position to bail out the rest of the world. Though it has huge savings, its economy is only 1/10 of Europe, the US and Japan combined – has the world taken China for granted? Why can’t China have a recession?
2. Soft or Hard Landing? – depends on industry – basic services, consumer growth will continue to boom, though real estate stands to take a hard landing.
3. Signalling and shifting gears by looking inward – shift from investor-led growth with its side effects to a stronger focus on domestic demand.
4. Question of Western media lecturing China what to do + Bias of Financial media
5. Symbiosis rolling down the cliff (Interdependence becomes a crutch)
5. Cyclical slump with systemic implications because of the once-in-a-decade leadership transition
6. Questioning the veracity of government figures
7. Protectionism as a response
8. Nationalisation of the Yuan
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CrossTalk: China Power Engine Without Fuel?
with Peter Lavelle
Source – Russia Today on Youtube, September 12, 2012
Will over-investing lead to a bust? Could China shatter markets across the world? And if there is a hard landing, what will the consequences be? CrossTalking with Jim Rogers, William Powell and David Pilling from the Financial Times.
RT LIVE http://rt.com/on-air