Goldman Sachs Weighs In on China's Economic Future
Experts continue to weigh in on what will happen to China's gross domestic product as the world's economic expansion slows, or even moves into reverse. The most recent opinion from an important group comes from Goldman Sachs Group Inc. (NYSE: GS), which claims the GDP of the People's Republic will grow at no better than 7% over the next decade. Reuters reports:
China's economy is expected to grow at a much slower pace of about seven percent over the next decade, but its stock market still has the most attractive upside among "BRIC" countries, according to Jim O'Neill, Chairman of Goldman Sachs Asset Management.
"China is in the early stages of going from a long period where it was all about the quantity of growth, into an era where the focus is on the quality of growth," O'Neill told a news conference in Singapore.
Douglas A. McIntyre
Filed under: 24/7 Wall St. Wire, China, Economy Tagged: featured, GS