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Ace Investment Strategists chief trader Yu-Dee Chang gives his outlook for China's growth and economy.
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And we're gonna get back to this market rally we've been talking so much about with the -- up -- 223 points a lot of it.
Thanks to Europe but what China were to slow us all down beauty Chang's the chief trader at -- investment strategies that.
Is our next question -- he joins us from Washington.
DC it's our next question because we're kind of making an assumption albeit admittedly too quickly that Europe's kind of -- -- figured how -- after last night.
If they do will China pull back.
Hard landing and we're back to square one or worse what he said.
I'll I say apple results -- this also call you.
You see you are unionized -- -- China.
Has been this ever revolving.
Headline news right so -- that there will give very economy slows down -- are going to hard landing definitely right that's going to crash the world what odds.
Are you putting on that right now -- -- had to say.
As -- look at the the GDP growth that we've seen in China and as you see you if you compare to last to their fourth quarter to the first quarter 2012 there have been.
Possibly coming back down to earth a little bit but what -- do you put on a -- quote unquote hard landing.
In China.
That's a question I think -- A probability of hard landing in my own opinion is probably slim well there's no doubt China's slowing down China's been out going through -- -- -- growth in thirteen years myself right now the government's coming -- start to say something because.
Internally.
Everybody believes that.
A 7% growth is absolutely critical for China to create enough jobs to sustain this so call middle.
Income level our population which is a very important population is right now what -- Anything below that by the -- is our society now need to get a number this -- US.
Vs China turns out economy's -- drug but -- at a number of what a hard landing is in China is that 7% the number yup.
That's what they're talking about their sudden -- right now the prime minister -- setting this year's growth rate at about seven.
And a half percent and their finance our department just came out what yesterday actually said that you know what we will be able to me that's seven a half percent off they don't have to hold at seven.
Then -- right then they're in trouble if they if they don't all right so you're bullish down just to broaden the discussion slightly in markets are way up today on Europe Bob -- you cautious.
Well I'm actually very cautious you think about it -- at what I mean just because of the primary is this could coming out -- -- -- resolved to -- are due to solve the European debt crisis that doesn't mean it's gonna get a result that's how are they argue I'm golfers I'm very determined to win the US open but.
Think the question is how exactly muscles do that and that's the question everybody knows the problem is just to make too deep to go away why -- -- so I think.
The market right now I just kind of involving a between China EU and United States earnings all -- gulf oil and we're just looking here looking there right now the news is good markets rally but I think it's going to off sort of slowed down a little bit -- -- not sell off again.
All right I'll tell you what -- US open -- but -- the line throughout the entire hour.
I don't -- market didn't care who threatened to -- back flips across is trading floor.
Yeah I no offense but that's not going to happen you.
Are at the big --
