China set for bumpy landing but not so bad: Leaders at WEF

Chinese economy may continue to struggle this year, giving goosebumps to the world economy, but it should not be as bad as was being feared, according to global leaders here for the elite WEF powwow on the state of the world.
Other potential risks before the global economy include Brexit (Britian's possible exit from EU) and continuing plunge in commodity markets, IMF chief Christine Lagarde and several other leaders opined as the five-day WEF Annual Meeting drew to a close today.
Security concerns and refugee crisis will be the major issues as far as Europe is concerned, while Presidential candidate Donald Trump and his several controversial comments were the most talked topics about the US.

Indian leaders opined that the reform process would continue in the country, even though some opined in private, that the political scenario remains bumpy and could spring some negative surprises as several state elections are expected and that would come in the way of economic planning of the central government.
Some of the most soothing comments for China came from noted economist Nouriel Roubini, who is famously known as Dr Doom, when he said market analysts tend to go from one extreme to the next in their predictions.
"That's why we might not want to read too much into all their recent talk of an economic meltdown in the world's second largest economy," he said.

At the same time, Roubini warned that all would not be entirely well for China.

"My view for the last few years on China is that we will have neither a hard nor a soft landing. I would say China is going to have a bumpy landing," he noted.
Lagarde said China is continuing with its economic reforms and therefore growth might slow down slightly, but will probably still hover around 6.5 per cent - a perfectly reasonable rate.
Other forecasts made here for 2016 included a peace deal for Cyprus and renewable energy getting cheaper.
Some leaders also said that oil prices will bounce back, with the head of Saudi Aramco Khalid al-Falih saying that the collapse in oil prices is "irrational" and there is only one way, that is up, that oil prices can go in 2016.

Technology czar Bill Gates said that the world will continue to be a better place in 2016.