The China risk: what leaders in Davos say about it
DAVOS, Switzerland — Worries over China's economic future have dominated many of the talks at the World Economic Forum in Davos, Switzerland. Here are some of the top quotes of the day.
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"China has the confidence and capacity to maintain medium to high growth."
-Li Yuanchao, Vice-President of China, on how the government will support the economy while it shifts its focus from manufacturing toward more consumer spending.
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"There is a communication issue."
-Christine Lagarde, managing director of the International Monetary Fund, on the trouble China has had in telling investors how it intends to manage financial markets.
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"The real question is: 'Are they prepared to follow through on an agenda they charted out?'"
-US Treasury Secretary Jack Lew on China's promise to make its markets more open and reform its economy.
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"There are no loose cannons that are going to be running China ... The commitment to market reforms is a very real commitment."
-Ray Dalio, chairman of investment firm Bridgewater Associates, on the dedication of the Chinese leadership to modernize their markets and economy.
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"The sea is rough but we've got to ride it."
-Sri Lankan Prime Minister Ranil Wickremesinghe on how China's slowdown is affecting the rest of Asia.
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