IMF: Chinese economy to grow 10% in 2010

[chinapakistan]

The world economy is recovering faster than widely expected and China's economy will see a growth of 10 percent and 9.7 percent in 2010 and 2011 respectively, the International Monetary Fund (IMF) said in its latest World Economy Outlook report released on January 26.

According to the report, the world economy is recovering faster than anticipated, but the recovery speed will vary from region to region. The world economy is expected to grow 3.9 percent and 4.3 percent respectively in 2010 and 2011.

The report said that the world economy declined 0.8 percent in 2009. The forecasted growth rate for the world's economy in 2010 was increased by about 0.8 points from it delivered in the World Economy Outlook released October 2009.

The report also points out that the recovery of most developed economies remains slow with a growth of about 2 percent in 2010. Among them, the U.S. is forecasted to see a growth of 2.7 percent and 2.4 percent in 2010 and 2011 respectively, and the economies within the Eurozone will see a growth of 1.0 percent and 1.6 percent in 2010 and 2011 respectively.

Many emerging and developing economies, mainly boosted by strong domestic demand, are expected to see active economic activities and a growth of 6.0 percent and 6.3 percent in 2010 and 2011 respectively. China's economy will grow 10 percent and 9.7 percent in 2010 and 2011 respectively, while India's economy will see a growth of 7.7 percent and 7.8 percent in 2010 and 2011 respectively.

In the meantime, the IMF also warned that the outlook of the world economy still faces big risks, and cancelling stimulus too early or improperly will harm the growth of the world economy. In addition, the damaged financial systems of the major developed economies, the rising unemployment rate and other factors will slow down the recovery of family expenditure, and economic recovery will also be affected by financial conditions, rising commodity prices and other factors.

By People's Daily Online

IMF: Chinese economy to grow 10% in 2010 - People's Daily Online

 

[Guest]

this article reminds me something, and it seems that china failed to tone in with the prophecy twice, at least.

The following are the projected growth rates from Goldman in 2003. The newer projection models are not available for public which has faster growth rates projecting somewhere between 2010-2012 xxx will grow faster than China.

Projected Growth rates
Years China xxx
-----------------------------
2000-2005 8.0 5.3
2005-2010 7.2 6.1
2010-2015 5.9 5.9
2015-2020 5.0 5.7
2020-2025 4.6 5.7
2025-2030 4.1 5.9
2030-2035 3.9 6.1
2035-2040 3.9 6.0
2040-2045 3.5 5.6
2045-2050 2.9 5.2

Source: GS BRICs Model Projections.

 

[dccafe]

should this be a good news or bad news...
i think both...
i am no expert in economy, but i personally feels that it too "concentrated".
due to inflation, especially in the realty sector... creating social problems...
how are they actually connected? not sure... thats just how i felt.

 

[conworldus]

this article reminds me something, and it seems that china failed to tone in with the prophecy twice, at least.

Gordan Chang's famous "The Coming Collapse of China" in 2001. 9 years later, China stands.

 

[dccafe]

self-awareness....
its always good to remind ourselves what the potential problem are.
good to be confident, but better always prepare for the worse.
overconfidence would blind us.

 

[oct605032048]

this article reminds me something, and it seems that china failed to tone in with the prophecy twice, at least.

well joking is joking, but the foreseeable future of economy growth of China is stable and I do hope Pakistani people can get rid of the civil conflicts caused by american and Taliban and enjoys the same fast growth as well.

 

[GSK]

While many countries are struggling to accelerate their ecnomic development, China is thinking another way. We need a growth rate of around 8%, not the faster the better which will bring many social problems such as the bigger gap between the rich and poor, the limits of natural resources, and the environment problems. We just need a steady development. The figure of development rate is not that important as long as it is good enough.

 

[ek_indian]

Good job from Chinese economic policymakers. My best wishes for great future.

 

[no_name]

China's infrasture is catching up to western standards. Now they need to put increasing focus on innovation and tech transfer/acquirement. The green energy development is a good move.

 

[GSK]

Gordan Chang's famous "The Coming Collapse of China" in 2001. 9 years later, China stands.

Maybe it is not his intention, but that author is good because he helped China fool those westerners, counter the spread of "Chinese threat", and win valuable time for China to focus on its development. Maybe it was the Chinese government who hired him to write that book, who knows.

 

[hero]

Good job china. They are converting rapidly their natural resource as GDP. So for they have done good job. It may not be sustainable IMO for long term.

 

[faithfulguy]

Good job china. They are converting rapidly their natural resource as GDP. So for they have done good job. It may not be sustainable IMO for long term.

How is China converting their natural resource to GDP except their people? They are manufacturers and must import natural resource to sustain their manufacturing capacity.

 

[chinapakistan]

Good job china. They are converting rapidly their natural resource as GDP. So for they have done good job. It may not be sustainable IMO for long term.

Thank you, we just buy indian natrual mertial like steel and make them product then sell back to india.

 

[hero]

How is China converting their natural resource to GDP except their people? They are manufacturers and must import natural resource to sustain their manufacturing capacity.

If saudi arabia wants to convert their natural resource(oil) to gdp for next 10years then they can supress china in gdp growth rate. but we know it is not sustainable.

 

[chinapakistan]

If saudi arabia wants to convert their natural resource(oil) to gdp for next 10years then they can supress china in gdp growth rate. but we know it is not sustainable.

They are allways doing so... And check indian export list 2009, find how many natrual resource india have exported to china.
Stop talking without basis.