7位专家谈他们对中国经济的忧虑_BEC初级作文

7位专家谈他们对中国经济的忧虑

Chinese GDP growth slowed to 7.7% last year, hitting its lowest level since 1999.

Some of the biggest issues we're seeing in the headlines these days are concerns over shadow banking, rising local government debt, and trust defaults.

The credit crunch China experienced last year, and the worry that deleveraging could trigger a hard landing is also getting a lot of attention.

We asked six China experts the same question. What worries you the most about China? Here are their responses:

Alaistair Chan, Moody's: "The central bank’s campaign to cut risky lending practices and over-leverage in the financial sector via monetary tightening is a big concern. The PBoC seems to have learned from the June 2013 Shibor scare, but it is still unclear how monetary tightening against a backdrop of potential defaults in corporate bonds this year will unfold."

David Cui, Bank of America: "Debt growth and corporate sector solvency issue."

Patrick Chovanec, Silvercrest Asset Management: "I'm worried that Chinese leaders actually believe it when they say everything is under control. The clock is fast running out on China's tactic of using runaway credit to fuel investment-led growth.

"At best China faces a growth squeeze from a mounting burden of bad debt, at worse that bad debt will blow up in its face. Either way, China faces a wrenching economic adjustment. If China's leaders recognize not just the direction but also the urgency of change, they have some hope of getting to the other side. If they kid themselves into complacency, they are courting disaster."