China’s growth next year could be hit by credit strains and east Asian economies face the risk of inflation if they hold interest rates low, World Bank chief Robert Zoellick warned on Friday.
China “is going to face a challenge… because their credit growth has been very large and they’re starting to bring that back and that could have a potential effect on their growth later in 2010,” he told reporters.
He added, “If you look at the east Asian econmies, you’re starting to get some signs of faster recovery but also potential inflation.”
He also said that if east Asian countries kept interest rates low in line with the US Federal Reserve “you could have some inflationary bubble effect.”
Zoellick was speaking ahead of annual meetings of the International Monetary Fund and the World Bank in Istanbul. The IMF had said on Thursday that the world economy’s recovery had begun but warned the crisis was not over.
The IMF forecast that China’s economy will expand by 8.5 per cent this year and 9.0 per cent in 2010 — better than the annualised growth of 7.5 per cent in 2009 and 8.5 per cent in 2010 it projected in July. –AFP
July 2025
Nutrition Month
“Give us much more than P50 increase
for proper nutrition!”
Invoke Article 33 of the ILO Constitution
against the military junta in Myanmar
to carry out the 2021 ILO Commission of Inquiry recommendations
against serious violations of
Forced Labour and Freedom of Association protocols.
Accept National Unity Government (NUG)
of Myanmar. Reject Military!
#WearMask #WashHands #Distancing #TakePicturesVideosturesVideos
July
3 July – International Day of Cooperatives
3 July – International Plastic Bag Free Day
5 July – World Youth Skills Day
7 July – Global Forgiveness Day
11 July – World Population Day
17 July – World Day for International Justice
28 July – World Nature Conservation Day
30 July – World Day against Trafficking in Persons
Monthly Observances:
Schools Safety Month
Nutrition Month
National Disaster Consciousness Month
Weekly Observances:
Week 2: Cultural Communities Week
Micro, Small, and Medium Enterprise
Development Week
Week 3: National Science and
Technology Week
National Disability Prevention and
Rehabilitation Week
July 1-7:
National Culture Consciousness Week
July 13-19:
Philippines Business Week
Week ending last Saturday of July:
Arbor Week
Daily Observances:
First Saturday of July:
International Cooperative Day
in the Philippines
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