China remains single largest driver of global growth: Former Victorian state premier

John Brumby, former Victorian state premier and ACBC national President:

China’ s growth will slow. “It’ s almost impossible to imagine that China could continue to grow at 10 percent per annum

Chinese GDP of 10 trillion U.S. dollars, if China grows just six percent, it’ s adding 600 billion U.S. dollars of new economic growth to the world’ s economic growth, almost a third of the world’ s new economic growth. So there are more growth and more opportunities

So yes, the New Normal is real, it’ s more sustainable. It IS slower, but it’ s consumer-led, it will have more bumper on the way, but China will remain the single largest driver of the global economic growth and opportunities for my life time.

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