China Economy and World Economy

China: At the same time, Girado noted, it must take into account the precarious state of the world economy. "China economy is going through a very particular moment, as the Chinese government has decided to make important changes at a time when global economic activity is much less dynamic," he said. "China had proposed a significant number of economic reforms that would have had a very positive outcome in a dynamic world, not the one we have at the moment," he said, according to Xinhua China. However, Girado note that "China has many tools to spur its level of activity." According to Girado, the interest rate above 4 percent in China offers it room for maneuver as compared with its European partners. "China can cut the rate to stimulate the level of activity, while its partners can't," said Girado, who believed the restructuring in the Chinese economy will result in a better growth for the country. Girado said he agreed with Chinese President Xi Jinping recent assertion that the economy must open more to the outside world in order to spur growth. "China must make an effort to attract foreign investment and experience, and to improve the country policies of opening up," he said. Talking about the economic crisis the Europe is currently going through, Girado said the root of the problems "is located across the Atlantic." The U.S. intention to hike the interest rate caused investors to withdraw from markets seen as risky, and redirected capital towards "the world largest capitalist economy," Girado explained. Related: Interview: Confident Chinese economy will grow 7 pct: OECD expert PARIS, Sept. 17 -- The Organisation of Economic Cooperation and Development China economy expert Margit Molnar has said she is confident that Chinese economic growth would be around 7 percent in 2015. The so-called "flight to quality" has decreased financing possibilities for emerging economies, which until now have been the engines of the world economy," said Girado. (news.financializer.com). As reported in the news.