An Overview of China: Economic Prospects and Challeges

Author
Danny Leipziger
Date
2010-05-18
Views
6903
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An Overview of China: Economic Perspects and Challenges

- Speaker: Danny Leipziger, Former Vice President, World Bank

- Date: May 18, 2010.

"In the world’s worst economic crisis since the Great Depression, China’s economy still managed to grow 8.7% in 2009. This is in stark contrast to negative growth rates in other parts of the world. In the first quarter of 2010—on an annualized rate—China is growing close to 12%, which I believe creates the danger of overheating as double digit growth is very hard to sustain. At the same time, the composition of growth changed during this crisis due to the very large fiscal stimulus package instituted by the Chinese authorities to make up for the fact that exports were clearly lagging..."

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