The World Bank says China

The World Bank says China - The World Bank says China's...

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The World Bank says China's economy will grow faster than expected this year, but cautions it is too soon to say a sustained recovery is imminent. The World Bank raised its estimate of China's gross domestic product growth this year to 7.2 percent, up from the 6.5 percent projected in March. Jumpstart In its quarterly report released Thursday, the Washington-based lender credits China's $586 billion stimulus program with supporting growth by increasing investment in factories, real estate and public works. Jing Ulrich, the managing director and chairman of China equities for the investment bank JP Morgan in Hong Kong, says the stimulus program helped jumpstart the world's third-largest economy. "Now, going forward, the most important thing to watch out for is whether the Chinese domestic consumption can hold up in the face of declining exports," she said. "We think domestic consumption is going to recover incrementally in the next few quarters, mainly because confidence is recovering very strongly
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This note was uploaded on 10/21/2009 for the course FSD 6789 taught by Professor Vinh during the Spring '09 term at ITT Tech Flint.

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