Australian treasurer optimistic about Chinese economy

Australian Deputy Prime Minister and Treasurer Wayne Swan said Tuesday that he is a believer in the China Story and a long-time optimist about Chinese economy.

Speaking at the Australian China Business Council (ACBC)'s Canberra Networking Day, Swan recalled the pessimism on China's economy last year, saying that now all would like to agree that China's growth has stabilized "at a pretty robust pace". "There 's no doubt we had two big risks in the global economy in 2012, but China was not one of them. Rolling crises in Europe and the U. S. dogged the global recovery last year and they are still the biggest risks on the horizon,"he said.

He said the Chinese government has still got the policy capacity to manage their economy and"they've been getting it pretty right".

Swan also pointed out that China is now 40 percent larger than it was in 2008."So its growth rate can be 20 percent lower -- say 8 percent now versus 10 percent back then -- for China to make the same contribution to global growth."