Replacing the U.S. Consumer: Is China Up To The Job?

November 4, 2009 at 8:00 am

China’s rapid growth is leading the recovery in the Asian and world economies, the International Monetary Fund says in its latest regional economic outlook. The fund now forecasts China will grow an outsize 8.5% in 2009 and 9% in 2010, driven by strong investment spending and surging loan growth. By contrast, Japan’s economy is expected to shrink 5.4% in 2009, and other Asian emerging markets are forecast to grow a combined 1.7%. But how much does China’s recovery help the rest of the world?

Some benefits from China’s boom have been spilling over into neighboring countries, the IMF argues: “A part of Asia’s export revival is due to the recovery of China’s domestic demand. …In particular, commodity exporters (such as Australia and Indonesia) and to a lesser extent capital goods exporters (Japan, Korea, and Taiwan Province of China) have benefited from the surge in China’s infrastructure investment.”(By Andrew Baston, The Wall Street Journal, October 29, 2009)

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Entry filed under: Asia, Business Development, Business Environment, China, Global Business, Imports/Exports, NKITA, Trade.

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