World Bank president says China can help world economy by boosting consumption |
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September 07, 2011
China can boost global economic growth by pressing ahead with reforms to promote domestic consumption and reduce reliance on exports and investment, World Bank President Robert Zoellick said Monday
China can boost global economic growth by pressing ahead with reforms to promote domestic consumption and reduce reliance on exports and investment, World Bank President Robert Zoellick said Monday.
Communist authorities have said repeatedly they want more self-sustaining growth based on domestic consumption. But they have made little progress, and investment as a share of China’s economy rebounded after Beijing launched a stimulus based on public works spending following the 2008 global crisis.
The World Bank is working with Beijing on developing ways to rebalance the world’s second-largest economy, Zoellick told reporters after meeting with Chinese officials.
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