YORK (Xinhua Shen Wei Qing) yesterday, the World Bank released China's economy is the engine of global recovery in 2010, but the rate of economic growth in 2011 from 10% last year to 8.7%.
In regional terms, East Asia and Pacific economic growth in 2010 is estimated at 9.3%, leading the global recovery. World Bank chief economist Justin Yifu Lin said China is undoubtedly leading the recovery in East Asia. He said that China imports rose 35% last year, growing faster than exports, which is conducive to the balanced development of the Chinese economy. It is reported that the Bank continue to increase on last year, China's economy is expected, from 8.5%, 9.5% up to the current 10%, Lin Yifu of China's economic development is also optimistic.
But he also pointed out that the total imports and exports still account for 65% of the Chinese economy, China should continue to expand domestic demand to promote sustained economic development. He expects the Chinese economy since 2011, inflationary pressures, the growth rate slightly lower than last year, to 8.7%, which is also in line with general trend of the future development of the global economy. In addition, stock and bond flows to developing countries last year's sharp increase in net flows of international capital, which, though consolidation of the recovery of most developing countries, but may also pose a risk, threatening the medium-term recovery, especially in the sudden currency appreciation or the case of asset bubbles appear. Lin said that this year the plight of other countries should learn from our mistakes.
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