CRI听力:Hard Landing Very Unlikely for China's Economy: World Bank Chief Economist

World Bank chief economist Kaushik Basu says China's economy is very unlikely to experience a hard landing.

He made the comment at the recently concluded World Economic Forum in the Chinese city of Tianjin.

He said although China's economic growth is likely to slow amid restructuring, the chance of a hard landing is very low.
 
"But that risk is very, very small for China, simply because the government is indeed very strong, so some of the steps it's already taken. This year, the World Bank has an expectation of 7.6 percent from China. After that, a bit of 0.1, 0.2 tapering off, getting down to roughly 7 percent and then its keeps going there."

China's economy has had a bumpy ride this year. Growth slid to an 18-month low of 7.4 percent in the first quarter ticking up to 7.5 percent between April and June.

The World Bank economist added that from a long-term perspective, restructuring will improve the quality of China's economic growth, making it more inclusive and sustainable.