What does this phrase mean: deemed next to impossible?

[FangFang]

Business English Lesson, Advanced Level

ESL/EFL Test #404 "Banking in China", question 2

China's record-breaking performance in raising more than US$46bn is all the more stunning given that, just two years ago, the challenge of cleaning up balance sheets and non-performing loan portfolios was ......... next to impossible by the international investment community.

(a) convinced
(b) deemed
(c) evinced
(d) seemed

Business English Lesson, Advanced Level

ESL/EFL Test #404 "Banking in China", answer 2

China's record-breaking performance in raising more than US$46bn is all the more stunning given that, just two years ago, the challenge of cleaning up balance sheets and non-performing loan portfolios was deemed next to impossible by the international investment community.

Correct answer: (b) deemed

Your answer was: correct
_________________________

hiya,
Sorry,can't understand that " deemed next to impossible " :( , "the challenge .....was deemed impossible by the international investment community" seems ok,right? :) thanks for answering.

PS: for question 9, why not use "catalyst"? I mean," ingredient" here sounds very abstract to me. thanks again!

[Lost_Soul]

was deemed impossible = they considered it impossible
next to = almost

[Mister Micawber]

.
Hi FangFang,

Yes, 'catalyst' is probably not far enough away from possibility. My original thought was that 'catalyst' was too strong a word. I think I'll change it, thanks.
.
_________________
Native English teacher at Mister Micawber's