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
May –
Anti-Graft and Corruption Awareness Month
“Corruption drains the nation
and victimizes workers who build the nation.
Accountability now!”
Invoke Article 33 of the ILO Constitution
against the military junta in Myanmar
to carry out the recommendations of the 2021 ILO Commission of Inquiry
against serious violations of protocols of
Forced Labour and Freedom of Association.
Accept the National Unity Government (NUG)
of Myanmar. Reject Military!
#WearMask #WashHands
#Report Corruption #SearchPosts #TakePicturesVideos
May 1 – Labor Day
May 2 – World Freedom Day
May 12 – World Communication Day
May 15 – International Day of Families
May 16 – International Day of Living
Together in Peace
May 21 – World Day for Cultural Diversity
for Dialogue and Development
Monthly Observances:
The Month of the Ocean
Anti-Graft and Corruption Awareness Month
Volunteerism Month
Weekly Observances:
Week 2: Safe Motherhood Week
Daily Observances:
May 1: Labor Day
May 7: Health Worker’s Day
May 31: National Fisherfolks Day
Lorem ipsum dolor sit amet, consectetur adipiscing elit. Ut elit tellus, luctus nec ullamcorper mattis, pulvinar dapibus leo.
