Economic security/ Benefiting from an
expanding Chinese market
It is understandable
that China's recent economic data have sent jitters through world markets.
The slowdown comes at a vulnerable time
for the world economy -- the eurozone is still at risk of another recession,
the Abenomics has failed to drag Japan out of the mire, and investors are
pulling out of emerging market funds.
Policymakers and investors were not
prepared for a reality that after more than three decades on steroids, the
world's second-largest economy has been transitioned to a "new
normal" of slower growth.
The market, crazy about speed and figures,
seems to have missed the reality that the Chinese economy is healthier under
the "new normal" featuring positive trends of stable growth, an
optimized structure, enhanced quality and improved social welfare.
The developments could bring even greater
benefits to the world than the miraculous double-digit growth.
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