In the report, Subbaraman said the answer to the question: "Should we be there?" is a cautious "yes" for multinational investors with a global foothold.
On one hand, China is steadily moving towards a market-based economy and its recent WTO entry will accelerate this, he said.
Furthermore, globalization and the information age have spurred the pace and momentum to dramatic levels.
On the other hand, there are risks, especially for foreign investors over the next two to three years. China's WTO accession will result in painful adjustment costs in conjunction with unfinished financial and State-owned enterprise (SOE) reforms, as well as rapid urbanization, he said.
"But our near-term assessment is that, provided macroeconomic policies remain accommodative, the economy will weather this difficult period, very likely averaging GDP growth of around 7 per cent," added Subbaraman.
Notes
Bible n.a book considered authoritative in its field權(quán)威書籍：被認(rèn)為是某一領(lǐng)域里具有權(quán)威性的書
例：the bible of French cooking.
法式烹飪的權(quán)威著作
foothold n.立足處
market-based economy市場經(jīng)濟(jì)
globalization n.全球化
information age信息時代
pace n.速度, 步調(diào)
momentum n.動力, 要素
dramatic a.戲劇性的, 生動的
adjustment n.調(diào)整, 調(diào)節(jié)
in conjunction with…與……一道
conjunction n.聯(lián)合, 關(guān)聯(lián)
urbanization n.都市化, 文雅化
macroeconomic policy宏觀經(jīng)濟(jì)政策
accommodative a.善于適應(yīng)新環(huán)境的
On one hand, China is steadily moving towards a market-based economy and its recent WTO entry will accelerate this, he said.
Furthermore, globalization and the information age have spurred the pace and momentum to dramatic levels.
On the other hand, there are risks, especially for foreign investors over the next two to three years. China's WTO accession will result in painful adjustment costs in conjunction with unfinished financial and State-owned enterprise (SOE) reforms, as well as rapid urbanization, he said.
"But our near-term assessment is that, provided macroeconomic policies remain accommodative, the economy will weather this difficult period, very likely averaging GDP growth of around 7 per cent," added Subbaraman.
Notes
Bible n.a book considered authoritative in its field權(quán)威書籍：被認(rèn)為是某一領(lǐng)域里具有權(quán)威性的書
例：the bible of French cooking.
法式烹飪的權(quán)威著作
foothold n.立足處
market-based economy市場經(jīng)濟(jì)
globalization n.全球化
information age信息時代
pace n.速度, 步調(diào)
momentum n.動力, 要素
dramatic a.戲劇性的, 生動的
adjustment n.調(diào)整, 調(diào)節(jié)
in conjunction with…與……一道
conjunction n.聯(lián)合, 關(guān)聯(lián)
urbanization n.都市化, 文雅化
macroeconomic policy宏觀經(jīng)濟(jì)政策
accommodative a.善于適應(yīng)新環(huán)境的