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China Hard Landing Concerns Vastly Overblown, Roach Says

Concerns that China will enter a so-called hard landing are “vastly overblown” even as economic growth becomes more unbalanced, according to Yale University Professor Stephen Roach.

China’s government has done a terrific job in controlling inflation, Roach, former non-executive chairman for Morgan Stanley in Asia and chief economist, said at a conference in Shanghai yesterday. The greatest risk to economic growth is the increasing reliance on fixed-asset investment and the declining contribution of private consumption, he said.