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Argentine expert sees China unlikely to repeat Japan's historic economic recession

09-06-2010 14:25 BJT

BUENOS AIRES, Sept. 5 (Xinhua) -- China's decisive and balanced economic policies would prevent the country from repeating the bubble economy burst that hit Japan in the 1980s, an Argentine expert said Sunday.

While Japan applied "a counteractive fiscal and monetary policy" in the 1980s, China is "taking the other road" and acting "in a decisive and well-oriented way," Mariano Turzi, a professor of international politics, told Xinhua in an interview.

China is trying to "avoid excessive development of the exports and excessive boost of the coastal cities" and focus "wisely on the interior market and the development of communications and infrastructure," he noted.

This approach is different from Japan's in the 1980s, when its massive exportation prompted other countries to take protectionist measures against it, said the Torcuato Di Tella University professor.

"China can avoid that and be centered on its domestic market, as it is doing it," added Turzi, who also works in Johns Hopkins University in Baltimore, the United States.

Commenting on recent reports that China has overtaken Japan as the world's second largest economy, he said that the Chinese economy is still "at the level of a developing country."

"Being the world's second (largest) economy does not mean being the world's second economic power," Turzi stressed.

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