Wednesday, March 31, 2010

[IWS] World Bank: China Quarterly Update, March 2010 [17 March 2010]

IWS Documented News Service
_______________________________
Institute for Workplace Studies----------------- Professor Samuel B. Bacharach
School of Industrial & Labor Relations-------- Director, Institute for Workplace Studies
Cornell University
16 East 34th Street, 4th floor----------------------
Stuart Basefsky
New York, NY 10016 -------------------------------Director, IWS News Bureau
________________________________________________________________________

 

World Bank

 

China Quarterly Update, March 2010 [17 March 2010]

http://web.worldbank.org/WBSITE/EXTERNAL/COUNTRIES/EASTASIAPACIFICEXT/CHINAEXTN/0,,contentMDK:22502137~pagePK:1497618~piPK:217854~theSitePK:318950,00.html
or

http://siteresources.worldbank.org/CHINAEXTN/Resources/318949-1268688634523/CQU_march2010.pdf

[full-text, 17 pages]

 

[excerpt]

OVERVIEW

In spite of the global recession, China's economy grew 8.7 percent in 2009. Massive investmentled

stimulus was key, but real estate investment gained prominence more recently and household

consumption growth has held up very well. The domestic growth momentum continued in the first

months of 2010. Exports declined in 2009 as a whole, even as China gained global market share. With

imports strong, external trade was a major drag on growth in 2009 and the external current account

surplus declined sharply. Exports rebounded strongly through 2009, though, and exceeded the precrisis

level in early 2010. In a heated real estate market, surging property prices triggered policy measures to

expand supply and curb speculation.

 

We project 9.5 percent GDP growth for this year, with a shift in the composition. Governmentled

investment is bound to decelerate. But, exports are likely to continue to recover amidst a pick up in the

global economy and real estate activity is likely to grow strongly this year. Consumption growth should

remain solid. Inflation is on course to be significant in 2010, after being negative in 2009. But, with

global price pressures likely to be subdued amidst large spare capacity internationally, China's inflation

is unlikely to reach high rates in 2010. We expect the external surplus to remain broadly unchanged this

year.



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****************************************
Stuart Basefsky                   
Director, IWS News Bureau                
Institute for Workplace Studies 
Cornell/ILR School                        
16 E. 34th Street, 4th Floor             
New York, NY 10016                        
                                   
Telephone: (607) 255-2703                
Fax: (607) 255-9641                       
E-mail: smb6@cornell.edu                  
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