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China to help drive world GDP expansion (3)

By Wei Tian (China Daily)

07:59, January 18, 2012

He added that global trade imbalances should no longer be a major concern for policymakers. Instead, there should be more stimulus policies conducted under coordination on the international level to boost growth.

"The current policy responses to the global downturn are highly inadequate, because developed countries have phased out stimulus measures while the unemployment rate remains high," said Rob Vos, an analyst with the UN's economic and social affairs department.

Vos suggested that the US and Europe should launch short-term stimulus policies to boost demand and reduce unemployment, which would also provide time for China and the other Asian economies to restructure toward a greater reliance on domestic demand.

If global coordination is conducted effectively and political disputes were to be resolved, the global economy may grow by 3.9 percent in 2012, Wang said.

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