Stiglitz feels 'less optimistic' about China's market reforms

Shanghai

BEIJING'S recent attempts at stabilising markets have cast doubts over its ability to propel growth and engage in market reforms, Nobel Laureate Joseph Stiglitz said on Monday.

Predicting that the global economy this year will have growth prospects similar to those last year, he said he is "a little less optimistic" about China's ability to drive growth, despite its status as a major player in the global economy.

"I guess I'm a little less optimistic than I've been," he said, noting that Beijing has, in the past few weeks, made made attempts at soothing investors' nerves over the fear about China's economic slowdown.

He was speaking to The Business Times in an interview on the sidelines of…