Former U.S. Federal Reserve chairman Ben Bernanke has gone on-record saying he's "optimistic" China's economy will not experience a hard landing.
Speaking at seminar in Seoul, Bernanke has pointed to the Chinese government's recognition that the days of heavy capital investment, steel plants and exports to generate high GDP growth doesn't work anymore in China.
Meanwhile, Bernanke has also taken time to laud the new Asian Infrastructure Investment Bank, saying it will create an opportunity for more useful projects around the world.
When it comes to an interest rate hike in the U.S., Bernanke says it should be viewed as a positive sign for the world's largest economy.
However, Bernanke has stopped-short of issuing a prediction of when the Fed may raise interest rates.
