South Korea has voiced confidence in China’s economic outlook, with the new finance minister saying he does not expect any serious adverse impact on his country, which depends heavily on Chinese trade.
Yoo Il-ho’s comments come as the world awaits China’s official 2015 economic growth figures on Tuesday, amid jitters about the extent of the country’s slowdown.
“We would all agree that the Chinese economy is in the process of slowing down,” Mr Yoo, who took office this month having served as a lawmaker for the ruling New Frontier party, told the Financial Times. But he endorsed Beijing’s predictions of a “soft landing”, saying Seoul expected China’s economy to grow between 6 per cent and 7 per cent this year.
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