"The policy to help stabilize the Chinese economy at the same time also has advantages of minimizing or reducing the scale of global imbalance, which is a good thing for both China and other parts of the world," King said.

China enjoys significant advantages compared with other countries, due to the massive infrastructure projects taking place here.

Although many forecasts suggest that economic activity will be stabilized in the second half of the year, King said HSBC's forecast suggests that such activity would stabilize at a very low level, and therefore, he does not expect an immediate return to business as usual.

"Even with stabilization, it can take quite a while to return to where the global economy was two or three years ago," King said.

(China Daily March 31, 2009)