- China should be able to achieve its official target of around 7% GDP growth over the next five to 10 years
- All countries should pursue structural reforms if they are to drive new growth and increase productivity
- With global trade growth slowing, economies should focus on promoting trade in services
- More information about the Annual Meeting of the New Champions 2015: http://wef.ch/amnc15
China’s capacity to achieve its official target of around 7% growth has not been impaired by recent market volatility and the structural reform challenges it faces, according to leading economists discussing the global economy on the closing day of the Annual Meeting of the New Champions. “For the global economy, the number one thing is to achieve growth,” said Justin Lin, Professor, National School of Development, Peking University, People’s Republic of China. “Whether China will be able to achieve around 7% growth is a big question mark in everybody’s minds. I am confident that China will.” Lin also predicted that China would grow for at least the next five to 10 years, continuing to contribute between a quarter and a third of global growth.
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