Sunday, July 13, 2014

There‚??s no cliff in China

February 20. 2013 1:02AM
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Omnishambles is the Oxford Dictionary's Word of the Year 2012. It denotes a situation that has been comprehensively mismanaged, characterized by a string of blunders and miscalculations. chose bluster, because 2012 was full of bluster from the skies and from the mouths of pundits.

In China, no established institution has come up with a credible word of the year yet. But judging from the scattered lists and rankings available, the choices appear a lot less dismal, a lot more optimistic.

True, 2012 has not seen substantial differences in some of the problems that average Chinese face. Corruption in public offices, skyrocketing housing prices, wealth gap, food insecurity and expensive yet poor medical services and public education continue to unnerve the nation. And the lackluster overseas markets along with the domestic economic slowdown once raised fears of further trouble.

But in China there has not been anything even close to eurogeddon, which is high on Oxford Dictionary's shortlist of runners-up. There is no financial cliff to worry about either.

The outgoing year might not have been a completely cheerful one for every Chinese. But it surely has been one of hope.

The economy outperformed expectations and is showing signs of recovery in the second half of the year — assuring signs that the feared hard landing is a hyperbole, and that the economy remains healthy and brisk.

There will be no better time to open up a new chapter than as we greet the New Year.

China Daily, Beijing

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