World Bank Predicts China will Lead the World Out of Recession
The strong development in China will help lift the world economy from recession, said the president of the World Bank, Robert Zoellick, quoted by Mediafax.
“Evolution of the Chinese economy this year will surprise you. Growth is not just an element of stability, but a force that will bring the system of global recession, “said Zoellick at a conference held in Montreal.
Yuan is an important international currency. The official appreciated, however, central bank efforts to make Chinese currency, yuan an important international currency.
It’s good to be created a multi polar of reserves of foreign currencies, but it involves some risks, “said Zoellick. WB anticipates a decline of 1.7% of the global economy this year, the first decline after the Second World War.
International financial institution estimated that the pace of growth will become positive in 2010, after strengthening the financial sector. For 2010, the bank expects growth of 2.3%.