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West’s analysis on Chinese economy not objective

Updated: Sep 8,2015 8:44 AM     Xinhua

PARIS — Former French Prime Minister Jean-Pierre Raffarin criticized on Sept 7 that analysis of the West world on the Chinese economy were often not objective.

The analysis on the Chinese economy, made in recent weeks in France and more generally in the West world, “are often made by overreaction or even malicious joy,” he said in a speech at a forum grouping European and Chinese entrepreneurs.

Raffarin’s critics gave a blow to the distrust or even slanders on the economic picture of China since the end of August following the fluctuations of the Chinese stock market, which have not affected the fundamentals of the Chinese economy.

These analyses were extrapolated “without considering enough important factors of the Chinese economy, human and financial ones,” Raffarin said.

According to Raffarin, China contributes to the world by coordinating its national interests with regional and global benefits, thus to help tackle regional and global issues.

Europe must stop to consider that Chinese investments are “risk carriers”, when China no longer buys only US Treasury bonds, but also launches more and more investments overseas, Raffarin said.

Things are moving in the right direction but much remains to be done, he said, adding that diversity of European investments is a way to overcome these worries.

Chinese initiatives such as the Belt and Road Initiatives and the BRICS bank are in line with the common interests promotion, described Raffarin, expressing also his joy for the participation of France and other European countries in the Asian Infrastructure Investment Bank.

This participation is a common opportunity to contribute to the development of Asia and so create necessary markets for European and Chinese companies, concluded Raffarin, adding that Africa also offers immense scope for cooperation between China and Europe.