China´s growth an important force in global recovery: World Bank chief (10/08/2010)

Updated: 2010/10/8 10:18:00

China´s growth is a very important force in the global recovery, World Bank Group President Robert B. Zoellick told reporters here on Thursday in response to a Xinhua question.

Zoellick made the remarks during a press briefing ahead of the Bank´s annual meeting this weekend.

Asked what China can contribute to the world development, the president, who just concluded a week-long China tour last month, said China´s growth itself is important contribution to the world.

China´s economy is projected to grow 10.5 percent in 2010 and 9. 6 percent in 2011, driven by domestic demand, according to the biannual World Economic Outlook (WEO) released by the International Monetary Fund (IMF) on Wednesday.

"China´s strong and sustained growth over the past several years has served as a linchpin for global trade, benefiting exporters of commodities and capital goods," said the report.

The World Bank chief stressed the importance of new multi-polar economy requiring multi-polar knowledge, with rising economies contributing new experiences to the world.

Recovery is happening, but not quick enough to bring enough jobs, and the economic downturn is still hurting people´s jobs and lives, said Zoellick.

"We need a more balanced and sustainable growth," he added.

Zoellick also warned of a potential resurgence of protectionism in the post-crisis period. He stressed that protectionism is not a way out, and it may only risk the repetition of mistakes of the 1930s.

Source: Xinhua

Authority in Charge: China National Textile and Apparel Council (CNTAC)

Sponsor :China Textile Information Center (CTIC)

ISSN 1003-3025 CN11-1714/TS