The chief economist of Morgan Stanley, the largest US based
securities firm, says it will be a huge mistake to turn negative on
China because of SARS. The deadly disease may be a blight on China
now, but it could also be a blessing in disguise.
Stephen Roach says the new Chinese leadership of President Hu
Jintao and Premier Wen Jiabao seemed to have risen to the occasion,
demonstrating their new and independent leadership.
He
noted transparency was now the credo in guiding the government's
response to SARS, and it could be applicable in dealing with other
aspects of Chinese activity.
Touching on the Chinese economy, Roach says SARS' impact on the
economy had already prompted Morgan Stanley to cut its 2003 growth
estimate to 6 and a half percent from its earlier projection of 7
percent.
(Cri.com May 16, 2003)