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BEIJING Cheap Nike Air Max 2018 Black , Jan. 3 (Xinhua) -- The whole world says China needs to rebalance its economy, and the Chinese government agrees. But one economist now says: "Wait a minute."


And he is not a nobody. Yukon Huang is a prominent economist and the World Bank's former country director for China.


For the last few decades, China's economy has gone from strength to strength.


From experiencing double-digit growth, to riding out the Global Financial Crisis,it has survived to become the world's second biggest economy.


But despite its status as an economic powerhouse, China's economy is often labelled as unbalanced, in terms of its disproportionate shares between investment and consumption.


Rather than redress the imbalance Cheap Nike Air Max 90 Black , Huang said China is on the right track.


In a recent interview with Xinhua, Huang said "rapid growth is essentially an unbalanced process."


"Unbalance is not the problem," Huang said. "The problem is to make sure that you invest in the right things."


In China, consumer spending in the first three quarters of 2013 made up 45.9 percent of the country's economic growth, while investment accounted for 55.8 percent, according to the country's National Bureau of Statistics.


A senior associate at Carnegie Endowment for International Peace, Huang said while China's consumption is only about 35 percent of its domestic gross product Cheap Nike Air Max Black , consumption shouldn't just be considered as a share of GDP.


"China's consumption, in real terms, adjusted for inflation, has been increasing for several decades," Huang said.


Co-editor of "Reshaping Economic Geography in East Asia" and "East Asia Visions", Huang has studied development of the world's economic juggernauts.


He said when the U.S. was industrializing over a century ago, it had "the most unbalanced growth process that we've ever seen".


When Japan Cheap Air Max 2018 Black , the Republic of Korea and Singapore were growing into high-income nations, sometimes at 9 or10 percent a year, he said their growth processes were unbalanced.


"So why should we think unbalanced growth is bad, when the growth processes of the successful countries have all been unbalanced," he said.


He warned prompting balance prematurely may actually incur stagnation.


"By the time they got to high income, their economies then became more balanced," he said.


If China grows at 7 percent a year Cheap Air Max 90 Black , he predicted by 2020, the economy will begin to rebalance.


"But by then it will be a high-income country," he said.


For Huang, growth is determined by two factors, investment and productivity - rather than consumption.


"If you invest properly, you build the capacity to produce; if you have technology and innovation, then your productivity increases Cheap Air Max Black ," he said.


But Huang warned if China is to sustain annual growth of 7 percent for the rest of this decade, it will need to re-direct its investment flow and address local government debt, racked up from massive public infrastructure projects and unpaid bank loans.


In order to promote productivity, he said China must boost investment in the private sector, which is usually more efficient than the public sector.


He also said China's continued urbanization program must be made more efficient by curbing wasteful spending on infrastructure.


By sportswriter Ji Ye


BEIJING, May 22 (Xinhua) -- India's film Dangal has been gaining traction in the Chinese box office as of late, and it has come as a suprise to many Chinese poeople that Cheap Nike Air Max 2018 Shoes , in a country known primarily for cricket, other sports such as wrestling also have considerable fan bases. The two most populous countries in the world have something important in common whne it comes to mass sports. India, like China, has been pursuing a football dream in recent years.


Both of the countries have a weak foundation in the sport and have suffered lackluster performance, but each also has a strong potential market for the sport, backed up by governmental support and long-term planning. Both countries, to put it succinctly Cheap Nike Air Max 90 Shoes , have ambitious plans to up their football game.


Chinese football has attracted huge attention with a big-spending league, but India is not a country usually associated with football headlines. However, Indian football is also making breakthroughs.


May 19, 2017 was a historic day for Indian football as the India U-17 football team registered an emphatic win over Italy in a friendly match at Arezzo. Currently, India is busy preparing for the FIFA U-17 World Cup, to be held in the country in October. Indian people see the chance to host the U-17 World Cup as an opportunity to revolutionize football in the country.


Also this month, the Indian national football team gained its best FIFA ranking of the last 21 years Cheap Nike Air Max Shoes , jumping one spot to 100th. India has twice previously stormed atop one hundred on the world ladder. They reached 99 in the world ranking's inaugural year in 1993, before achieving an all-time high of 94 in February 1996. But the next two decades saw India in a downward spiral, slipping all the way to their lowest ebb of 173 in March 2015.


On the sidelines of the 2017 World Football Forum held last week in Changsha, China, Subrata Dutta, senior vice president of the All India Football Federation, said in an exclusive interview with Xinhua that India needs this year's U-17 World Cup to be a success Cheap Air Max 2018 Shoes , adding that it would go a long way toward revolutionizing the way football is played in the country.


This edition of the U-17 World Cup will see Indian football touch 15,000 schools and reach out to 11 million students and youth across the country. "Gradually, there will be more young people preferring to play football than cricket," said Dutta.