Bloomberg News

Europe, U.S. Slowing Won’t Cause China Hardlanding, HSBC Says

November 30, 2011

Nov. 30 (Bloomberg) -- Slowdowns in the U.S. and Europe won’t cause a so-called hardlanding in China, Kevin Logan, chief U.S. economist at HSBC Securities USA Inc., said at a briefing in Beijing today.

More of China’s growth is coming from internal demand, Logan said.

U.S. growth will be slow in the next several years due to factors such as spending cuts by federal, state and local governments, high energy prices, and a stagnant housing market, Logan said. There is also a 70 percent chance that the Euro Zone economy will slide into recession this year, he said.

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