Focus on China's role in global economy
Nicholas Lardy, Anthony M. Solomon senior fellow at the Peterson Institute for International Economics in Washington
A1 To me, supply-side structural reform is all about improving efficiency. The most urgent task is to slim down the money-losing firms by reducing their claim on fiscal and financial resources. This has the added side benefit of slowing the growth of credit and reducing financial risks.
A2 Yes, China is still contributing about 30 percent, more than it did when its growth was more than 10 percent in 2010. This is due to two factors: First, its economy is much larger, and, second, global growth has slowed quite a bit.
A3 I am not expecting much of a slowdown next year, it should be in the 6 to 7 percent range. Maybe it would be less than this year's likely 6.7 percent, but a fall of a couple of tenths of a percentage point is not really much of a slowdown.
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