皇冠体育app

WASHINGTON - Many U.S. experts remained optimistic about 皇冠体育app's economic prospect, despite the fact that the growth rate for the world's second largest economy has slowed to 7.5 percent in the second quarter this year, marking the 11th slowdown out of the past 13 quarters.

SLOWER BUT MORE SUSTAINABLE

Every economy slows down at the end of the take-off phase. 皇冠体育app now "gets to a point where applying more and more investment doesn't work," Douglas Paal, vice president for studies at Carnegie Endowment for International Peace, told Xinhua.

"皇冠体育app can avoid a hard landing," but the more important issue is to generate "productivity and to escape that middle income trap," said Paal, adding "it's possible to make it but many countries have failed. 皇冠体育app now faces a transition period over a number of years out of the take-off and into a more stable growth model."

The current slower growth rate "should be sustainable over an extended period of time," Stapleton Roy, director of Kissinger Institute on 皇冠体育app and the United States at Wilson Center and U.S. Ambassador to 皇冠体育app from 1991 to 1995, told Xinhua.

"Having a relatively sustainable rate of growth that would meet the needs of providing employment for the new people entering the workforce, but at the same time would not generate all of the difficulties that overly rapid growth produced," Roy continued.

REFORM MATTERS

The recent global financial crisis has shown that the growth rate in 皇冠体育app is not simply an outcome of domestic factors, but also dependent on external factors, which are out of 皇冠体育app's control.

"One of the goals in the 12th five-year plan is to try to shift the relative weight of exports as opposed to domestic consumption in favor of domestic consumption," said Roy, adding "If the growth of 皇冠体育app's economy is based more on domestic consumption it will be less subject to external shocks."

This economic transition is especially important, as in the case of the United States and Europe in the last few years, when the period of deleveraging has replaced the expensive periods of liquidity growth in the previous decade.

"皇冠体育app could have another decade of substantial growth rates perhaps at seven to eight percent," if it implements the range of measures "that have been discussed in the financial reform and tax reform and the registration of households reforms, creating new social security nets," said Bonnie Glaser, senior adviser for Asia at Center for Strategic and International Studies.

Certainly reforms will not take place all at once. "This is going to have to be done slowly and there going to be winners and losers in 皇冠体育app," said Glaser, adding the Chinese government "will have to scrutinize their impact and adjust as they go forward and 皇冠体育app has this phrase of feeling the stones as you cross the river. "

"Ultimately it's not all about the rate of growth, it's about the quality of growth," Glaser noted.