But Ghosn believes the nation is headed "without any doubt" to a soft, rather than hard, landing thanks to domestic growth.

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There are risks in that the rapid rises in residential real estate prices could reverse and become destabilizing to parts of the economy, but overall, we forecast a soft rather than a hard landing for the economy and forecast 2102 economic growth of about 8%.

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This, in turn, will be good for China and the world economy, as the real estate market will be in for a soft landing rather than a hard-landing.

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