Former US Treasury Secretary Samers said that the scale of China's economy will exceed the predictions of the United States as the historical view of Japan and the Soviet Union, and neither of the two countries can succeed.
According to Bloomberg, Sammer said on the "Wall Street" program on Bloomberg TV: "Just six months or a year ago, according to the total GDP of the market exchange rateThe economy will surpass the United States at a certain time, and now no one is so sure. "
The latest monthly economic data shows that China’ s total retail sales of consumer goods in July, industrial added value and increase in investment increaseSlowness slows down, and it is lower than the expectations of economists.Including Goldman Sachs, institutions are decaying the forecast of China's economy growth. Now it is believed that GDP this year will only increase by 3%, far lower than Beijing's March setting, but now it has actually abandoned about 5.5%of the goals.
"People will look back at some economic predictions to China in 2020, just like they look back at the economic prediction of the Soviet Union or 1990 in 1960," Samers said.
Sammers lists the challenges facing China in the future, including huge financial risks, unclear growth engines, more and more Communist Party participating in enterprises, and the increase in the population structure of the elderly.
Sammers also said that China's current economic slowdown may ease American inflation to a certain extent, especially through the impact of commodity prices.
