China will import more. Increasing imports would not only balance the Chinese economy, but also the global economy.
Chinese President Hu Jintao announced yesterday that he wants to allow more imports to China. He said that during the APEC conference, Honolulu (Hawaii). This reports the New York Times.
APEC is the economic organization of Asian countries and countries that border the ocean. The conference also spoke two Chinese economists: Min Zhu of the IMF and National Economic Research.
They expect a soft landing for the Chinese economy. The duo draws on the declining inflation, the fact that there is less doubtful debt and the luwende the property market.
Market analysts continue especially in that last question. They warn of a huge bubble in the property market, says the FD.