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Economic Summit should focus on rethinking Asian growth model

0 Comment(s)Print E-mail CRI, September 13, 2011
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World leaders and economic elites have gathered at the 2009 Summer Davos in China's costal city of Dalian for a three-day summit to discuss "Relaunching the Economy."

China Daily published an editorial saying that while China deserves kudos for its contribution to the world's emergency rescue programs, its economic celebrities should not get carried away with the attention they are receiving at the meeting, but rather use the Summer Davos as an opportunity to learn more.

The editorial said even though China's economy is in better shape than many, if not all, others, that does not necessarily mean it is now the most successful manager of a market economy. Because the country is still a newcomer to the market economy, there are still other nations that have not yet granted it market-economy status.

The editorial said that an annual 8-percent GDP, which is now widely believed to be within China's reach this year, would be an enviable achievement. But it also pointed out that healthy growth is not only about numbers. As China's economic locomotive regains steam, it cannot afford to see the quality of its growth lag behind that of other nations.

In conclusion, the editorial said while quality economic growth might not be one of the main topics at the Dalian event as the participants are preoccupied with economic growth figures, rethinking the Asian model of growth would be particularly significant.

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