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Ex-Australian PM confident in China's economic growth prospects

Xinhua, October 27, 2015 Adjust font size:

Former Australian Prime Minister Kevin Rudd said here on Tuesday that China will continue to make contribution to global economic growth.

Rudd made the remarks on the last day of the World Economic Forum Summit on the Global Agenda in Abu Dhabi. He also refuted the popular pessimism on China's economic growth prospect at the meeting.

"Personally I believe that much of this pessimism is without foundation. Much of this pessimism is based without a fundamental knowledge of the Chinese economy," he said.

Rudd explained that the Chinese economy's fundamentals are strong and it will continue to grow, and "China is in the middle of a reform program which will take at least another half decade to fully engineer."

The former leader also pointed out that "China is disadvantaged by the slowdown in the global economy and people have to be more balanced when making judgments about China's growth prospects."

"China is not in recession... It is contributing positively to global growth," Rudd stressed. Endit