Here is another piece from the China Daily. They reported on former Treasury Secretary Paulson’s thoughts on the Chinese economy and the relationship with the U.S. I will summarize some of what he said, but the whole article can be found here.
Paulson indicated that China faces no short term hard landing but faces mid term risks. He added that China has room to move in the short term to prevent a mid term hard landing.
I so agree. China still has room to grow on its present path. It needs however to adjust away from an infrastructure model as room is running out. We will see if new leadership can move the boat in a new direction.
Paulson also said America should connect more closely with China. Indeed, the US does well to engage China and find ways to get into tighter cooperation. China is a lot of work to get close to. The culture of the West and China is still very far apart.
However, it is worth the effort. China and the West can be friends. Lets try to understand and find mutual benefit.