Global downturn won’t hit China badly

by Hongwei Shang on February 1, 2008

in News

Global downturn won’t hit China badly
By Wang Xu (China Daily)
Updated: 2008-01-25 07:45

China’s economy will experience only a moderate slowdown in 2008 because its diversified exports and strong domestic demand will help it stay resilient amid a weakening world economy, economists said yesterday.

"We expect the Chinese economy to grow by 10 percent this year despite a US-led global economic slowdown," said Liang Hong, an economist with Goldman Sachs in Hong Kong. "Strong domestic demand, especially investment growth, is expected to sustain the overall GDP growth, though the export growth is set to slow down."

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