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
World Day for Safety and Health at Work
“Safety and health at work every day!”
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!
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Monthly Observances:
March – Women’s Role in History Month
April – Month of Planet Earth
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Last Week of March: Protection and Gender Fair Treatment of the Girl Child Week
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Mar 25 – International Day of Remembrance of the Victims of Slavery and the Transallantic Slave Trade
Mar 27– Earth Hour
Apr 21 – Civil Service Day
Apr 22 – World Earth Day
Apr 28 – World Day for Safety and Health at Work
