Top Biz News

China seen as a motor of global economy: Soros

(Xinhua)
Updated: 2010-02-04 09:16
Large Medium Small

HONG KONG: George Soros, the world famous investor and currency speculator, said here on Wednesday that China has been the first country to recover from the financial crisis and emerged as a motor of the global economy, with its isolation from the global financial system aiding a swift economic recovery.

Related readings:
China seen as a motor of global economy: Soros Soros: China to emerge as big winner
China seen as a motor of global economy: Soros Economy gathers more steam
China seen as a motor of global economy: Soros 'Economy has embarked onto the track of steady recovery'
China seen as a motor of global economy: Soros The Chinese answer to global financial crisis

"For China, the financial crisis was an external shock. It hasn't really shaken the (China's financial) system itself," said Soros in a public discussion with a panel of experts and students at Hong Kong University.

Besides, China had resources to stimulate the economy and was relatively better situated to tackle the crisis, he added.

Soros predicted that China, India, Brazil and other developing countries are going to grow faster than the developed world.

Soros is the founder of Soros Fund Management and co-founder of the Quantum Fund.
Specials
Columnists
China Daily E-paper