Impact of China’s slowdown on India rests on reforms: Arvind Panagariya

Beijing : The impact of China’s economic slowdown on India will be largely dependent on how the country proceeds on policy reforms, NITI Aayog Vice Chairman Arvind Panagariya has said amid the perception that Indian economy can gain from the deceleration of the Chinese economy. Panagariya said that China’s slowdown is not a big surprise but quite contrary if it continued at 10 % for the fifth decade that would be a surprise. “I will not put it that way. I do not see it as China’s pain because China also knew that once they get to this kind of income level, growth will slowdown,” Panagariya told PTI.  “First of all the Chinese slowdown is not unexpected. It is too much to think that China will continue to grow. No body has done that. It depends on what counter-factual you are choosing,” he said.       China’s economy has dipped below seven % to 6.9 % in the third quarter.     “….there are no examples of an economy that has grown about 10 % for more than three decades. The slowdown of China is certainly consistent with the experience of South Korea, Taiwan and Singapore which are grown at those kind of rates,” he said.