China Can Grow 10 Percent
China’s economy can continue to grow by more than 10 percent in the quarter-2009 IV. Growth was supported by the swift flow of investment and increased private consumption. Thus the results of research from government agencies.
“The economy benefited from the rapid investment, consumption rate reached a record, an increase in exports in international markets, and stable industrial growth,” the China News quoted Yu Bin, an economist at the Development Research Center China Cabinet in Beijing.
Yu said in a symposium that China’s economy will grow by 10 percent in the fourth quarter. Meanwhile, growth is expected throughout the year to 8.5 percent.
China is expected to maintain double-digit growth next year, continued Yu. However, the economy also faces several challenges, including inflation rates, packages and the associated increase in yuan exchange rate.
“If the yuan rises too fast will a lot of export industries are suffering. However, if the increase is only small and slow to attract capital flows. In addition, speculation on the yuan can bring stability to financial markets. China will face two major difficulties of this, “said Yu.
The government must also seek strong to stabilize the real estate market which is contributing significant portion of national growth.
Earlier this month, the World Bank to improve China’s growth forecasts in 2009 from 8.4 percent for a stimulus package is very large, but said that China still needs to increase domestic demand in order to create a sustainable recovery.
Meanwhile, after returning from tours in Asia, U.S. President Barack Obama called for the U.S. to produce more goods for sale in the Pacific region.
In the face of rising unemployment and declining levels of popularity in the polls, Obama assured the public that new job creation is a priority.
“I’ve been around Asia to open a new era for the U.S. relationship. I have talked with leaders in all the countries I visited about what we can do to sustain economic recovery and create jobs and prosperity back to the people. That is a task that will keep my focus on the months ahead, “he said in a radio speech recorded when he was in Seoul.
“To be able to continue to grow, we need to save, save, and keep the deficit remains under control. We also have more to export, produce, and sell to other countries. Exports can help job creation in the country and improve living standards. If U.S. exports to the Asia Pacific grew five percent, we can increase employment of these exports, “said Obama did.
Mexico
The increase in oil prices and exports slowly pulled the press of the Mexican economy from recession. However, the financial system in the country still faces challenges.
“We hope that in 2010 the Mexican economy will grow about 3 percent,” said Deputy Finance Minister Alejandro Wermer. Expectations of economic growth is rising rapidly from a contraction of 7.5 percent in 2009. Mexico is the largest economic power in Latin America.
Mexican economy in the third quarter grew 2.9 percent compared with the previous period.Mexico has suffered a crisis more than a year, but the latest figures that support the government’s belief that the recovery has begun. However, gross domestic product was 6.2 percent lower than the July-September period last year.
Economics Nobel laureate Joseph Stiglitz said that Mexico’s leaders fail to improve their economic systems, including the still many monopolies and tight budget. Mexico approved the budget for the year 2010 for 244 billion U.S. dollars, rose only slightly from last year’s budget.
Meanwhile, Russian Prime Minister Vladimir Putin called for a modernization program and the attitude more accountable to the business community in order to reduce the economic dependence of the raw materials.
