EU experts sanguine on Chinese economy

Added On February 8, 2019

 Stephen Perry, Chairman of Britain's 48 Group Club, said over the past 40 years the Chinese government has shown it is capable of managing the economy.

SOUNDBITE1: STEPHEN PERRY, Chairman of Britain's 48 Group Club
"I think the first thing is the transition the 9-10 percent growth was only going to last for a short number of years, and now we are looking at the 6 percent growth.""And I think it was one of the incredible wonders of the world, how the Chinese state has managed the transformation of the economy without any great crisis, it's a very capable government."
As China shifts its economy away from quantitative growth to qualitative growth, European Institute for Asian Studies CEO, Axel Goethals, says he is confident about how the economy is developing and growing.
SOUNBITE2:AXEL GOETHALS, CEO of European Institute for Asian Studies
"I think you have to put it always in perspective. If you look to China 40 years ago when you look to the development of the economy at that time, it's very easy to have double-digit growth figures, because you start from really very low economic development. But now you see in fact the transfer from quantitative growth figures to qualitative growth figures, and I think qualitative growth figures are much more important than quantitative growth figures. I think this is what we observe now with China. I think still the way China is developing and economy is growing I think it's still a huge achievement I don't see any problem in that."
Rumors about China's economy seem to never end, as some foreign media continue to speculate on its imminent collapse. But 40 years of strong growth and development has proven them wrong time and time again.
"I have seen the front pages of The Economist and other newspaper articles for 18 years saying 20 years saying China is about to face a total collapse ,the end of the Chinese Dream, the end of the growth in the Chinese economy, and it's not happened yet. But it goes on being said. All China can do is go on proving them wrong, and eventually they'll have to wake up to it."
Chinese advances in technology have also exceeded most foreign experts' expectations.
SOUNDBITE4: HARRY PAPASOTIRIOU, Professor, Int'l Relations at Panteion?University
"In the past Chinese technology was based too much on copying Western technology. I think now this has changed, now you see China producing original technology of its own.? So, that is a big step, a big difference that I noticed." "Globalization really made all sorts of products very cheap and China was a big part of that."
Former German ambassador to China, Michael Schaefer said Europeans look forward to deepening cooperation with China. 
SOUNDBITE5: MICHAEL SCHAEFER, Former German ambassador to China
"I think the last 40 years are tremendous success for China. And I think it has been tremendous achievement for the world. I think Deng Xiaoping's idea of opening the country but also slowly reforming the country has been extremely wise a concept. So I think it would be wise, but that is what your society has to decide. It would be wise to continue this concept of slowly opening, reforming, adjusting, contributing, taking the lead in some issues, working together with other countries. We Europeans hope china will continue this wise concept of opening and reform, and will take to consideration not only its only interest but also the interest of it's partners."