Lloyd Blankfein: This Could Very Well Be The Chinese Century

While some on the Street are worried about the downturn in Chinese economy and its possible ramifications, others strongly believe that there is no stopping China in the 21^st century. Lloyd Blankfein, chairman and CEO of Goldman Sachs Group Inc GS, is one of the optimists when it comes to China.

Blankfein was recently interviewed by CNBC's Andrew Ross Sorkin about the downturn in Chinese economy.

Do You Believe The Numbers By China?

"I believe there are numbers. I would say that, I think it\s very hard to gauge and I am not sure they are measuring things in the same way. I am not sure what they are measuring, I think it’s a less sophisticated capital allocation system. I am not sure that they are collecting the information the way we would," Blankfein said.

Related Link: Lloyd Blankfein On The State Of U.S. Economy, Slump In Oil Prices

"I don't know [if China is manipulating the numbers]. How do I know? I say, my overall view of China is that over the long-term, they are going to do very well. I said this other times before, this could very well be the Chinese century the way the 20^th century was the American century."

Where Does That Leaves The United States?

"It's not a zero sum game […] Their economy is going to be bigger than our economy, even though they are going to be poorer than us on a per-capita basis, there’s just a lot of people in China. So, the fact that they are catching up, it’s like being the Person of the Year, doesn't mean you are the best, most fabulous person of the year. It means you are the one that's pivotal and it's your decisions that the people watch."