adb vice president no hard landing for china
Last Updated : GMT 11:31:02
Arab Today, arab today
Arab Today, arab today

ADB vice president: no hard landing for China

Arab Today, arab today

Arab Today, arab today ADB vice president: no hard landing for China

Beinjing - Xinhua

Visiting Vice President of the Asian Development Bank (ADB) Stephen P. Groff said in Beijing Saturday that he is optimistic about China\'s economic growth this year despite signs of downward risks at the year beginning. \"We believe the growth will be moderate in the first few months of 2012, and pick up later in the year,\" said Groff in an exclusive interview with Xinhua before flying to Hainan province to attend the Boao Forum for Asia Annual Conference 2012. Groff said although downside risks are increasing in the short-run, he believes the Chinese government can cope with the challenges through fiscal operation and expansionary monetary policy. \"We don\'t have any concern of hard-landing for China in the future,\" said Groff. Noting China has lowered its GDP growth target to 7.5 percent this year, Groff said the slight downward revision highlights the Chinese government\'s efforts to pursue growth quality. But Groff also stressed that to secure long-term balanced growth, China should further expand its domestic consumption, especially in the case of current fragile external demand affected by the modest recovery in the United States, fiscal and debt concerns in the European Union, and Japan\'s lackluster economic performance, which are China\'s largest trading partners. He suggested that China should diversify its trading partners and increase trade activities within Asia as well as BRICS countries. Meanwhile, he said China should take the opportunity to spur domestic demand, to address its social issues with more spending on education, healthcare, pension, public housing and other social security programs, which will also impact consumption positively. Groff also warned of the widening Gini Coefficient problem that not only China faces, but other Asian countries. He said to address the big gap between the rich and the poor, more efforts are needed to strengthen income distribution policies and social security nets, in addition to increasing fiscal transfers to poorer regions. According to Groff, another challenge ahead of China is a shortage of labor brought by the growing aging population. But he added that increasing cooperation within the Asian-Pacific region could help offset the problem as there is a different demographic profile. \"To solve the problem, the whole region should increase regional integration, not only in the labor resources, but also in the manufactory-chain, infrastructure construction as well as more in economic cooperation,\" he said.

arabstoday
arabstoday

Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

adb vice president no hard landing for china adb vice president no hard landing for china

 



Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

adb vice president no hard landing for china adb vice president no hard landing for china

 



Arab Today, arab today
Arab Today, arab today Jordanian woman reveals her project

GMT 00:46 2017 Saturday ,11 November

Jordanian woman reveals her project
Arab Today, arab today The Big Apple bike boom

GMT 10:47 2017 Wednesday ,22 November

The Big Apple bike boom
Arab Today, arab today Keep kids busy at Thanksgiving gatherings

GMT 11:14 2017 Friday ,10 November

Keep kids busy at Thanksgiving gatherings
Arab Today, arab today Leaders of Russia, Iran, Turkey meet

GMT 10:12 2017 Wednesday ,22 November

Leaders of Russia, Iran, Turkey meet
Arab Today, arab today 'Advanced' cyber attack targets Saudi Arabia

GMT 10:18 2017 Wednesday ,22 November

'Advanced' cyber attack targets Saudi Arabia
Arab Today, arab today
Arab Today, arab today
Arab Today, arab today Australian academic's book pulled

GMT 15:20 2017 Monday ,13 November

Australian academic's book pulled
Arab Today, arab today May under Brexit pressure at EU reform summit

GMT 02:14 2017 Saturday ,18 November

May under Brexit pressure at EU reform summit
Arab Today, arab today Delhi half-marathon to go ahead

GMT 03:51 2017 Saturday ,18 November

Delhi half-marathon to go ahead
Arab Today, arab today The history of solar eclipses

GMT 05:16 2017 Sunday ,20 August

The history of solar eclipses
Arab Today, arab today VW says will invest over 34bn euros

GMT 07:19 2017 Tuesday ,21 November

VW says will invest over 34bn euros
Arab Today, arab today Driverless, electric future just round

GMT 02:45 2017 Monday ,20 November

Driverless, electric future just round
Arab Today, arab today Singer Jahda Wahba has unlimited ambitions

GMT 07:56 2017 Monday ,20 November

Singer Jahda Wahba has unlimited ambitions
Arab Today, arab today paObama climate envoy slams Trump's rejection

GMT 16:04 2017 Friday ,17 November

paObama climate envoy slams Trump's rejection

GMT 09:23 2017 Saturday ,18 November

Fedra happy for “Between Two Worlds” success

GMT 11:15 2017 Thursday ,16 November

Angola oil boss sacked by father's protege

GMT 18:41 2017 Friday ,20 October

Designer Aql Faqih aspires to innovation

GMT 11:38 2017 Wednesday ,15 November

Unloved vultures fight for their survival

GMT 11:49 2017 Thursday ,17 August

Egyptian artist presents new collection of designs

GMT 13:41 2017 Tuesday ,21 November

French choke up over proposal

GMT 00:44 2017 Monday ,20 November

Japanese regulators raid Airbnb

GMT 17:12 2017 Monday ,07 August

Al-Shawaifi reveals secrets of total solar eclipse

GMT 16:53 2017 Tuesday ,05 September

Youssra depended on colored foam
Arab Today, arab today
Arab Today, arab today
 
 Arab Today Facebook,arab today facebook  Arab Today Twitter,arab today twitter Arab Today Rss,arab today rss  Arab Today Youtube,arab today youtube  Arab Today Youtube,arab today youtube
arabstoday arabstoday arabstoday arabstoday
arabstoday arabstoday arabstoday
arabstoday
بناية النخيل - رأس النبع _ خلف السفارة الفرنسية _بيروت - لبنان
arabstoday, Arabstoday, Arabstoday