The International Monetary Fund released on the 9th the latest "World Economic Outlook" report. In the next two years, China's economic growth rate is forecasted to slow somewhat; but will continue to maintain a momentum of rapid growth, at rates of respectively 9.3% and 9.5% respectively.
Reports say that despite some signs of slowing down, the emerging Asian market economies witnessed strong growth in the second half of last year; and are a major driving force behind China's economy. China's economic growth was primarily driven by investment and net export growth.
The report predicted that the future growth of Asian emerging market economies depends on the region's financial system, and resistance to the economic turmoil in the financial market cool-down of developed economies. With the tensions in global financing, capital inflow to the region is expected be lower this year. But so far, the direct impact on the region's financial system is still limited.
The report also said that the reduced demand for exports may also affect prospects for economic growth in emerging Asian market economies. The region's exports to the United States and Western Europe are expected to be affected most. However, because the proportion of the total exports of emerging Asian market economies to those of developed economies is declining and inter-exports between Asia's emerging market economies has increased, the impact of the decline in export demands on the region's economy will be smaller than in the past.
By People's Daily Online
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