China sees 3 big risks
Source: Xinhua |
January 15, 2010, Friday
|
Print Edition
Print Edition
CHINA considers weak global demand, high public debt and jobless rates of developed countries as well as badly timed exit strategies as main risks to the world economic recovery, a Chinese official attending a regional economic forum in Manila said yesterday.
Zheng Xiaosong, director general for the International Department of China's Ministry of Finance, told the Asian Development Bank forum that though the global economy is set to perform better this year than 2009, three major risks are threatening the recovery outlook.
Zheng said the first risk is a lag in the pick-up of private demand as the effects of the government-led stimulus package ebb.
"If the private demand remains sluggish due to high unemployment rate and low productivity, the world economy will continue to be weak," he said.
The second, Zheng said, is the public debt of developed countries remains high and their unemployment rate is increasing.
He said governments globally also face the challenge of timing on when to roll back the stimulus packages, adding that halting the measures too early or too late will spell trouble.
Zheng said while China continues the "proactive fiscal policy and moderately easy monetary policy" in 2010, the policies will be more flexible and focused.
Zheng Xiaosong, director general for the International Department of China's Ministry of Finance, told the Asian Development Bank forum that though the global economy is set to perform better this year than 2009, three major risks are threatening the recovery outlook.
Zheng said the first risk is a lag in the pick-up of private demand as the effects of the government-led stimulus package ebb.
"If the private demand remains sluggish due to high unemployment rate and low productivity, the world economy will continue to be weak," he said.
The second, Zheng said, is the public debt of developed countries remains high and their unemployment rate is increasing.
He said governments globally also face the challenge of timing on when to roll back the stimulus packages, adding that halting the measures too early or too late will spell trouble.
Zheng said while China continues the "proactive fiscal policy and moderately easy monetary policy" in 2010, the policies will be more flexible and focused.
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