Why the China doomsayers are getting things wrong
Jiang Jianqing, chairman of the board, Industrial and Commercial Bank of China, Christine Lagarde, managing director, International Monetary Fund, Fang Xinghai, director-general, International Economic Department, Office of the Central Leading Group for Financial and Economic Affairs of China and Gary D. Cohn, president and chief operating officer, Goldman Sachs, arrive for the session 'Where Is the Chinese Economy Heading?' Other major Western media outlets such as The Economist and The Wall Street Journal have weighed in with negative forecasts of China's economy. Yet there still seems to be great confusion over the direction of China's economy among Western financial and economic experts. Fear about China's economy also reveals an underlying anxiety that China is on the cusp of replacing the West as the dominant historical force of our time, and that this development, whatever its end result may turn out to be, is beyond the control of Westerners.
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