Louis Kuijs, chief economist, Great-er China, Royal Bank of Scotland. [Provided to China Daily]

Louis Kuijs, chief economist, Greater China, for the Royal Bank of Scotland in Hong Kong, is concerned Europe going into a recession could also affect China. Some 16 percent of China's exports currently go to Europe.

"If it were to happen, it would be a major problem for China. It would mean the US remained the only driver of the global recovery and as recent experience has shown the US cannot now pull the global economy by itself, so global trade would be quite subdued depressing China's exports."