China key to Asia: IMF
October 2, 2009, Friday
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Print Edition
Print Edition
THE International Monetary Fund forecast yesterday that China will lead Asia out of economic recession with growth of 8.5 percent this year and 9 percent in 2010.
In its World Economic Outlook report, the IMF cited the Chinese government's massive stimulus program as a linchpin for growth in the region.
"The policy stimulus in China could support recoveries in other parts of Asia," the report said.
For the world as a whole, the IMF raised its 2010 growth forecast to 3.1 percent from 2.5 percent, saying the global recession "is ending."
The big momentum is expected to come from Asia, forming the basis for a generally moderate regional recovery in 2010, it said.
Emerging economies in Asia will grow by 5 percent this year and 6.8 percent in 2010, according to the IMF estimates.
China's economy grew at an annual rate of 7.1 percent in the first six months of this year, and industrial production, investment, lending and other data for August were generally stronger than expected.
The performance of manufacturing-based economies such as South Korea and Singapore haven't fared as well.
Only China, Indonesia and India have escaped recession, the report said.
In its World Economic Outlook report, the IMF cited the Chinese government's massive stimulus program as a linchpin for growth in the region.
"The policy stimulus in China could support recoveries in other parts of Asia," the report said.
For the world as a whole, the IMF raised its 2010 growth forecast to 3.1 percent from 2.5 percent, saying the global recession "is ending."
The big momentum is expected to come from Asia, forming the basis for a generally moderate regional recovery in 2010, it said.
Emerging economies in Asia will grow by 5 percent this year and 6.8 percent in 2010, according to the IMF estimates.
China's economy grew at an annual rate of 7.1 percent in the first six months of this year, and industrial production, investment, lending and other data for August were generally stronger than expected.
The performance of manufacturing-based economies such as South Korea and Singapore haven't fared as well.
Only China, Indonesia and India have escaped recession, the report said.
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