The China Risk: What Leaders in Davos say About it
DAVOS, Switzerland – Worries over China’s economic future have dominated many of the talks at the World Economic Forum in Davos, Switzerland. Here are some of the top quotes of the day.
“China has the confidence and capacity to maintain medium to high growth.”
-Li Yuanchao, Vice-President of China, on how the government will support the economy while it shifts its focus from manufacturing toward more consumer spending.
“There is a communication issue.”
-Christine Lagarde, managing director of the International Monetary Fund, on the trouble China has had in telling investors how it intends to manage financial markets.
“The real question is: ‘Are they prepared to follow through on an agenda they charted out?'”
-US Treasury Secretary Jack Lew on China’s promise to make its markets more open and reform its economy.
“There are no loose cannons that are going to be running China … The commitment to market reforms is a very real commitment.”
-Ray Dalio, chairman of investment firm Bridgewater Associates, on the dedication of the Chinese leadership to modernize their markets and economy.
“The sea is rough but we’ve got to ride it.”