what is a "hard landing"? =cú hạ cánh chao đảo, không êm ái

Trung Quốc : Thế nào là “cú hạ cánh đau đớn”

Oct. 10 – As China tries to engineer a ”soft landing” for its economy, China watchers do not even agree on how to define a ”hard” or ”soft” landing. Cathy Yang reports. ( Transcript )

Now that was a smooth landing, or so it looks. The same kind of happy ending (kết thúc tốt đẹp) China’s policymakers would want for its economy, more so against the backdrop of (trong bối cảnh) what looks like (cái như là) a "hard landing" for the rest of the world.

But what exactly are experts predicting when it comes to China’s own economic landing? Johann Santer is COO of Superfund. SOUNDBITE (English) SUPERFUND’S COO, JOHANN SANTER, SAYING: "It’s very difficult to say at this moment what kind of landing it will be." Andrew Economos of JPMorgan Asset Management. SOUNDBITE (English) JPMORGAN ASSEST MANAGEMENT’S ANDREW ECONOMOS, SAYING: "In China they should be factoring in (tính đến) a bumpy landing." And Andrew Freris is from BNP Paribas Wealth Management. SOUNDBITE (English) BNP PARIBAS WEALTH MANAGEMENT’S ANDREW FRERIS, SAYING: "Nobody knows what is a hard landing. Nobody defines it. Everybody talks about it. So how could I possibly worry about something that simply doesn’t exist."

So we checked out Wikipedia if the phrase "hard landing" came up. It did. And it defines

"hard landing" as an "especially rapid or steep descent."

The term – Wiki says – commonly used in aviation – as well as rocketry. But all the more so in finance – especially when you’re talking about markets and the Chinese economy. And there appears to be no consensus on what they think about how China will "land" its economy.


SOUNDBITE (English) BNP PARIBAS WEALTH MANAGEMENT’S ANDREW FRERIS, SAYING: "If by hard landing we would mean a deceleration, I would fall asleep now here. Because the Chinese economy has been decelerating – count them – for more than six quarters, a year and a half." SOUNDBITE (English) JPMORGAN ASSEST MANAGEMENT’S ANDREW ECONOMOS, SAYING: "The policymakers will in terms of monetary and fiscal policy – have their foot on the gasoline as well as their foot on the brakes because of concerns over inflation as well as the fact that you’ve got a euro-zone growth crisis." SOUNDBITE (English) SUPERFUND COO, JOHANN SANTER, SAYING: "What I can tell you in case the global economy is heading more towards recession, a hard landing might not be unexpected at this stage." SOUNDBITE (English) REUTERS CORRESPONDENT, CATHY YANG, SAYING: "Whatever word play you choose to use, what is apparent now is, it would be in most people’s interest China achieves the soft landing it’s aiming for. And most especially so during a time when global risk aversion and the risk of a global slowdown are high – and China appears to be the last man standing, able to give the world a lift out of this current quagmire. Cathy Yang, Reuters."


|  G . L . O . S . S  |

  • current quagmire: tình trạng sa lầy hiện nay, khó khăn hiện nay
  • FACTOR IN: Consider as relevant when making a decision // COUNT
  • to engineer a ”soft landing: sắp xếp, thiết kế, một cuộc hạ cánh êm ái, tìm một giải pháp kết thúc an toàn, một giải pháp tối ưu cho hiện trạng khó khăn của nền kinh tế
  • might not be unexpected: không phải là chuyện bất ngờ, = may well be expected, =might well happen
  • simply doesn’t exist: đơn giản là không có
  • in most people’s interest: có lợi  cho mọi người nhất
  • word play: trò chơi chữ, cách nói văn vẻ, vòng vo


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