China Making Major Contribution to World Economy: WB

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Last updated at: (Beijing Time) Thursday, September 04, 2003

China Making Major Contribution to World Economy: WB

Officials of the World Bank (WB) said Wednesday in Washington that China is making a major contribution to the world economy.

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Officials of the World Bank (WB) said Wednesday in Washington that China is making a major contribution to the world economy.

Answering questions at a press conference at WB headquarters in Washington, Gobind Nankani, vice president of the WB and head of Poverty Reduction and Economic Management Network, said "It (China) is a fast-growing economy. It's making a major contribution to the global economy."

"I think it's important to recognize also that in the case of China, its imports have also been rising significantly, which has been good for growth in neighboring countries, and indeed, imports from the United States have also been rising," Nankani said.

"I think the impact that China's growth is having on neighboring countries and, indeed, on the global economy is tremendous," he said.

Richard Newfarmer, economic adviser in International Trade Department of the WB and lead author of the Global Economic Prospects report, also spoke highly of the Chinese macroeconomic performances in an interview with Xinhua.

Newfarmer said China's import is increasing and thus it is creating demand, which is a great contribution to the world economy.

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