WASHINGTON, Dec. 5 (Xinhua) -- Developed and developing countries may continue to stage divergent economic performance next year, and global policymakers need to clear things up without creating new problems so as to avert another round of financial crisis from emerging in coming years, said Philip Suttle, Chief Economist of the Institute of International Finance (IIF).
SUB-PAR PERFORMANCE IN 2012
"The global economy is performing really badly given three years of massive monetary stimulus moves from central banks," Suttle told Xinhua in a recent interview.
Three years after the huge amount of liquidity injected by central banks of developed countries into the economic system, the global economy should be booming. But the world is now struggling to stay out of recession, observed Suttle, Deputy Managing Director of the Washington-based IIF, a leading global financial association representing more than 450 member agencies around the world.
The global economy has registered "divergent" performance this year as most of the disappointments came from advanced economies including the eurozone, the United States and Japan, while emerging markets including China have done much better despite some economic slowdown signs, he added.
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