John Williams, President of the San Francisco Federal
Reserve, recently observed:
“China has garnered almost as much editorial ink in the
past month as U.S. presidential candidates—which may or may not be a
complimentary comparison. I don’t want to sound pejorative by calling some of
the commentary “hand-wringing”—though to be fair, some of it has been downright
apocalyptic—but I don’t see the situation as dire. I’ve said publicly over the
past few months that after going to China, and after talking to academics and
officials there, I came away a lot less concerned than when I arrived. And I
have to say that recent events have not changed my thinking to any serious
extent.”
Related:
http://vivekjayakumar.blogspot.com/2015/09/chinas-economy-nuanced-view.html