China assurances over economy are to be believed, Rio Tinto ceo says

China has more influence over its managed economy than is available to governments in market economies, making the country’s assurances over stability and growth believable, the ceo of Rio Tinto said.

Recent comments by the Chinese premier Li Keqiang at the World Economic Forum in Dalian, designed to soothe fears of instability, should be received in good faith, according to Sam Walsh. “The best way I can describe China is that investors here [in the USA] overlay a US-way of looking at the economy - the way you can influence and stimulate an economy, and all the restrictions that are in-built in a market economy, where you rely on demand and supply to make it happen,” Walsh said. “But China is a managed economy. The premier spoke in Dalian yesterday…Media reports were quite sceptical about his comments and assurances he was trying to...

Published

Andrea Hotter

September 14, 2015

01:02 GMT

New York