|
|
Focus on Boao: When will global economy recover? (2) |
 |
+ |
- |
15:36, April 20, 2009 |
When will the global economy and the Chinese economy bottom out?
The global economy will recover early next year or sometime a little later next year, believes Nouriel Roubini, professor at the Leonard N. Stern School of Business of New York University. Once the global economy recovers, he claims, growth will happen very quickly, especially in emerging economies like China and India.
"It is now time to listen to voices from Asia, from China and from emerging economies," stated Long Yongtu, Secretary General of BFA. China and other emerging Asian economies will take the lead in stepping out of the crisis and onto a path of healthy, rapid development once again.
"Risks" and "opportunities" coexist
China should seize new opportunities for development
The international financial crisis is still spreading, problems existing in the financial system remain unresolved, the real economy situation is still severe and trade protectionism is gaining momentum. A World Bank report revealed that from last Novembers G20 summit in Washington to this February, 17 countries from the G20 adopted a total of 47 trade protectionism measures.
In these conditions, China's economic and social development will face many difficulties. China's imports and exports will not improve much as long as major economies have not recovered, expressed Zeng Peiyan, Vice Chairman of the Board of Directors of the BFA.
"The domestic economy is in a crucial period when the development pattern is changing and the economic structure is being adjusted, and new challenges posed by the crisis combine with existing contradictions to make things more difficult for China to solve problems and seek stable development," Yao Gang, Vice Chairman of the China Securities Regulatory Commission pointed out.
Despite heavy pressure, opportunities also exist for China during the crisis. Looking back at the experience gained and lessons learned from the Asian financial crisis in 1997, Li Jiange said that this international financial crisis might be ushering in another opportunity for development in China.
Meanwhile, attendees also suggested that China pay more attention to the quality of economic development and takes advantage of the crisis to promote a more balanced model for economic growth.
Fan Gang, Director of the National Economic Research Institute, said that whether or not China's economy can maintain eight percent growth this year is not important. The key is whether the trend of growth is healthy and whether it can lay the foundation for balanced development in the future that will pave the way for further recovery next year.
"China will seize this historic opportunity to advance strategic adjustments to the economic structure, to accelerate reform and opening-up and to realize stable and rapid economic development that will contribute to the world's economic recovery," said Zeng Peiyan.
By People's Daily Online
【1】 【2】
|
|
|
Comment
Tell A Friend
Print Format
Save Article