Goldman Sachs Is Optimistic about China's Macroeconomic Performance
On February 2, chief Asia Pacific economist at Goldman SachsAndrew Tiltonsaid at "Global Macro Forum China 2018" said from the perspective of macroeconomic management, at present China's output is close to potential output level, inflation close to target inflation, it can be said that the Chinese economy has been very close to the "sweet spot". Mr Andrew Tilton believes 2017 is a good year for China's economy, with credit growth slowing sharply as growth picks up. "A year or two ago, there were a lot of investors and analysts worried about China's debt problem," he said. But now, as credit growth slows, China's debt risks become more manageable. In fact, under the action of multi-level financial regulation, the overall credit growth has been suppressed. For recent years, Mr. Andrew Tilton believes that China's policy tightening is expected more regulatory policy tightening, including shadow banking, environmental pollution, and other fields, rather than the tightening of monetary policy like raising interest rates, etc. In addition, globally, Goldman Sachs forecasts that the world economy will grow by 4.1% and 4% respectively in 2018 and 2019. Among them, developed economies are expected to grow by 2.4% and 2% respectively this year and next. Emerging economies will grow 5.5% and 5.6% respectively this year and next. Goldman Sachs further expects the U.S. economy to grow 2.8 percent and 2.2 percent this year and next, while China's real GDP growth is expected to reach 6.5 percent in 2018.