The bank’s "Quarterly report" indicates that the attenuated global economic prospect which has appeared recently has some uncertainties, and in 2008 the Chinese economy would still be maintaining a strong growth rate while promoting a demand helpful for its global growth.
World Bank’s China Bureau Chief Mr. Du Da Wei said: " Although the global economic growth will be on a hold and it might would affect China's export as well as the trade department's investment, but the domestic demand should maintain an exuberant tendency, and this kind of global economic defer will be helpful in balancing the Chinese economy. "
The World Bank forecasts that by the end of 2008, China's GDP will have a stable growth rate of 9.6%. Since the prospect uncertainty requires vigilance of the financial institutions’
The RMB will continue to grow stronger and it might push the USD down to few points by the end of 2008, which will be helpful in reducing the inflation pressure. Although the Chinese government has adopted financial policy to suppress the rise in price and price stability on long term basis, but in the long run, these measures will produce adverse effects which will possibly surpass the advantage that it will bring. In view of the fact that China has strong pecuniary conditions, the authorities may consider some substitutes for certain price control methods with special direct grants and a balance economic growth to ensure foreign exchange’s domestic stability.
Studied Trade & Economics at a university in Beijing China, has been a part of various multinational companies and bussiness entities in China.Currently working with LG korea in Pakistan.
