Recovery strength seen in China's economy

0 CommentsPrint E-mail China Daily, September 13, 2010
Adjust font size:

Klaus Schwab, founder and executive chairman of the WEF

The world economy has good chances of avoiding a double dip recession and the Chinese economy could expand by about 10 percent this year, said Klaus Schwab, founder and executive chairman of the World Economic Forum.

"I'm not one of those who feel the world will have a double dip," he said ahead of the Summer Davos Forum meeting, which opens on Monday in Tianjin municipality. "I'm fairly optimistic. I think we have learned from the crisis."

Also, yuan appreciation would not help narrow the trade deficit of China's major trading partners, such as the United States, he told China Daily on Friday.

While the developed economies remain weak, there is hope for the emerging market economies, he said. "Europe and Japan certainly, with a high level of debt, will have quite a number of years of slow growth. But I'm quite optimistic for emerging countries, particularly for China and India."

With economists already concerned about a widespread weakening of the global economy, the US could be a detriment to the global effort to revive the economy, he said.

The US Federal Reserve observed "widespread signs" that economic growth had eased in the six weeks to the end of August, according to its Beige Book report, suggesting the recovery was faltering in some parts of the country.

But the US is a very "entrepreneurial" economy, Schwab said. "We can be fairly optimistic that the US could come back to close to 3-4 percent growth in the near future. I think it's a resilient economy."

China would be a major engine driving the global growth with an annual growth rate of about 10 percent. "China's growth may decelerate to a certain extent, maybe going below 10 percent, 9.8 percent or even 9.7 percent this year."

But he said: "Going down from 11 percent to 10 percent is not a catastrophe," he said. "The economy is well managed by the Chinese government and we see that the latest indicators show that exports picked up again (in August)."

China's trade surplus narrowed to $20 billion in August, compared with $28.7 billion, thanks to expanding imports, which amounted to $119.2 billion, up 35 percent year-on-year. Its exports, however, continued to grow by 34 percent, which could provide the US congress with ammunition to demand a fast yuan appreciation.

Schwab said the US could have miscalculated the effect faster yuan appreciation would have on trade, citing the 2005-2008 period, during which the yuan rose by about 21 percent against the dollar but the US trade deficit with China increased.

"It's a very complex issue... The effect of yuan revaluation on the US trade deficit was not recognizable," he said.

Print E-mail Bookmark and Share

Go to Forum >>0 Comments

No comments.

Add your comments...

  • User Name Required
  • Your Comment
  • Racist, abusive and off-topic comments may be removed by the moderator.
Send your storiesGet more from China.org.cnMobileRSSNewsletter
主站蜘蛛池模板: 你是我的城池营垒免费观看完整版| 日本亚州视频在线八a| 全黄裸片一29分钟免费真人版| 青草国产精品久久久久久| 国产精品任我爽爆在线播放| ol丝袜高跟秘书在线观看视频| 日日噜噜夜夜狠狠va视频| 久久综合AV免费观看| 精品久久久久久无码中文字幕一区 | 色欲香天天天综合网站| 国产成人爱片免费观看视频| 2021国产精品久久久久| 在线观看免费宅男视频| yy6080新视觉旧里番高清资源| 本子库里番acg全彩无遮挡| 亚洲欧美丝袜制服在线 | 国产精品国产精品国产专区不卡| 999这里只有精品| 天天干天天草天天| 久久亚洲国产成人精品无码区| 正在播放pppd| 伊人久久久大香线蕉综合直播| 精品国产欧美一区二区| 四虎影院成人在线观看俺也去色官网| 高h全肉动漫在线观看最新| 国产成人精品综合久久久久| 亚洲色图第一页| 国产精品你懂得| 91福利国产在线观看网站| 在线免费视频a| 99久久免费只有精品国产| 拨牐拨牐x8免费| 久久久久性色AV毛片特级| 欧美性猛交xxxx乱大交蜜桃| 亚洲第一页在线观看| 波霸女的湮欲生活mp4| 国产**a大片毛片| 菠萝蜜国际通道麻豆三区| 国产精品亲子乱子伦xxxx裸| 8x网站免费入口在线观看| 少妇人妻偷人精品视频|