slowdown looks like it's here to stay, said the chief economist and head of research at Australian bank ANZ, Richard Yetsenga.
"For the region, it's increasingly about having business models which fit a world where China is growing much less quickly, and where trade is much less easy than growth support. That means increasing domestic demand, and that means getting domestic financial systems right," Yetsenga told CNBC on Thursday.
The Chinese flag floats before the skyscrapers of multinational corporations on February 23, 2018 in Shanghai, China.Ten years ago, China began the structural adjustment as its economy grew at 12%, he said, noting it's never gone back to that rate of growth. "I think we all need to accept that China is slowing structurally — we use the word 'structural' and really, we mean 'permanently,'" he said.
"My expectation is, we say goodbye to , it's very unlikely we ever get back to . I think this is a permanent slowdown in China," said Yetsenga.
Demographic Dividend finished
We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:
United States Latest News, United States Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Asia stocks set to jump as investors await signing of phase one US-China trade dealShares in Asia were set to jump at the open on Friday after sources told CNBC Thursday that Washington and Beijing have agreed to a phase one trade deal in principle, pending U.S. President Donald Trump's approval. Trump Bump v2.0 🇺🇸 doesn’t need a deal.
Source: CNBC - 🏆 12. / 72 Read more »
China expects tourism shift from U.S., Australia to Asia for Lunar New YearChina's aviation regulator said on Thursday it expected a decline in airlin... As long as they can steer clear of buying poor quality Chinese goods, especially those made in metal !
Source: Reuters - 🏆 2. / 97 Read more »
Asia stocks set to trade higher as Fed signals no rate hikes in 2020The U.S. Federal Reserve left interest rates unchanged on Wednesday, capping a year where the Fed cut its benchmark rate three times. The central bank also indicated it does not expect any policy changes through at least 2020.
Source: CNBC - 🏆 12. / 72 Read more »
Asia set to surge on trade hopes, pound jumps on exit pollsAsian share markets were looking to steam higher on Friday amid reports a last-g... All for nothing, again.... Mavi💙ya bi dur ya😂bro napim 🤷 ben neler çektim 5sene inisiyasyonda Hep S hep hep ama bu böyle ,kutsal bi doyum,ve nefes terbiyesi,mesela orgz da dur dicekler,tut falan oh well thank god for the stocks
Source: Reuters - 🏆 2. / 97 Read more »
China expects tourism shift from U.S., Australia to Asia for Lunar New YearChina's aviation regulator said on Thursday it expected a decline in airlin... As long as they can steer clear of buying poor quality Chinese goods, especially those made in metal !
Source: Reuters - 🏆 2. / 97 Read more »
Gift of the Day: A Silk Sleep Cap That Creates Good Hair DaysWith this cap, you’re free to cycle through a whole vinyasa of sleep positions without worrying about your hair
Source: TheCut - 🏆 720. / 51 Read more »