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Komfie Manalo, Opalesque Asia: At the recent Opalesque 2016 China Roundtable, Roland Schwinn of Eurex pointed out that there are certain misperceptions concerning China’s economic situation. For one, 6% GDP growth is still a figure that no European state that has achieved in recent years, said.
"But my point about the misconception is that you have to look at the absolute figures," he said. Over the last 15 years, the U.S. economy has grown nearly 70% in GDP and Germany has doubled the GDP. "But China has more than eight-folded the GDP. Sometimes the rest of the world tends to forget that we are talking about enormous absolute figures here. So in terms of absolute figures, 6% now is of course much more than 12% just a couple of years ago," he explained.
He said that he always finds it interesting whenever he comes to China in contrast of to the overseas media articles which is usually about China going down the drain. However, Schwinn said he does not see any depressive people or too enthusiastic people either.
Slowdown in economy leads to overcapacity, but China has still good long term growth
Schwinn further explained that whenever there are booms and subsequently slowdowns, there will be some overcapacity as well. And this happens everywhere in the world, just look at Spain and the outer rings and suburbs of the Spanish cities where you still see a lot of empty propert...................... To view our full article Click here
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