China's economic growth spurs Asia-Pacific recovery
Source: Xinhua |
October 11, 2010, Monday
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Print Edition
Print Edition
CHINA'S economic growth is not only important to itself, but also a driving force for recovery in the Asia-Pacific region and other areas, while coordination across regions is crucial for a sustainable global recovery, according to Anoop Singh, director of the Asia and Pacific Department of the International Monetary Fund.
"China carries out an important fiscal and monetary stimulus package, which helped raise China's demand for imports, commodities, capital goods and other goods, and China is a very helpful factor in global recovery," Singh said on Saturday in Washington.
He noted that the downside risks of the global economy remained high, but China and other Asian economies are leading the global growth.
"We do feel that Asian countries have new instruments to deal with any new downturn risk," he said.
He contended that the possibility of a global "double-dip recession" is slim, but some risks still remain high and even on the increase, especially in some advanced economies.
"If countries collaborate with each other, there are great benefits for the global economy, in terms of recovery, gross domestic product growth and employment creation," he added.
"China carries out an important fiscal and monetary stimulus package, which helped raise China's demand for imports, commodities, capital goods and other goods, and China is a very helpful factor in global recovery," Singh said on Saturday in Washington.
He noted that the downside risks of the global economy remained high, but China and other Asian economies are leading the global growth.
"We do feel that Asian countries have new instruments to deal with any new downturn risk," he said.
He contended that the possibility of a global "double-dip recession" is slim, but some risks still remain high and even on the increase, especially in some advanced economies.
"If countries collaborate with each other, there are great benefits for the global economy, in terms of recovery, gross domestic product growth and employment creation," he added.
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