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Chief economist at the global research firm Morgan Stanley, Stephen Roach, says China is now the main engine driving the Asian economy's growth.
Addressing the Boao Forum for Asia, the chief economist said last year China contributed around 13 percent of the world economy's growth, exceeding the contribution made by Japan and India together.
Meanwhile, he pointed out the export growth of Japan and South Korea mainly comes from exports to China which has expanded its market scale.
He also expressed confidence that the measures China is employing to control credit business will be effective in cooling down the overheating of the national economy.
(CRI April 26, 2004)
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