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China not ready to save the world, says SocGen

Date: 30 Jun 2009

It may be the world’s fastest growing economy, but China’s overall influence on global trade is still relatively small, SocGen economists told a media briefing in Hong Kong today. So hopes that China will lead the world out of recession are misplaced, they point out.

Keywords (click to search): [China] [economy] [outlook] [trade] [Societe Generale]

Aaron Pan
Stop dreaming: China is not going to save the world and replace the US as the driver of global growth anytime soon, stress economists at Société Générale.

Despite the fact that the world’s fastest-growing major economy posted GDP growth of 6.1% in the first quarter and showed significant signs of recovery, China’s overall influence on global trade and other economies is still relatively small.

“The market is very excited about China’s progress and we are very positive on the changes in China, and it’s delivering a strong performance on the domestic side,” Veronique Riches-Flores, European chief economist for SocGen,...

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