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People's Daily Online>>China Business

Global economy confronts downside risks

(Xinhuanet.com)

16:48, March 20, 2012

Edited and translated by People's Daily Online

The global economy has grown slowly since the beginning of this year, but it still face the downside risk, Zhu Min, deputy managing director of International Monetary Fund, said on Monday.

IMF estimated the global economic growth rate of 2012 will stand at 3.5 percent, declining from 4 percent in 2011. Zhu said though the grow rate of world economy is slowing down it fares well.

Zhu said the European debt crisis have been relieved since Greece is granted with economic aid and the European Central Bank has injected sufficient liquidity in the market. At the same time, the U.S. government creates more employments and the consumers’ confidence is recovering, improving U.S. economy as well as giving people confidence in the global recovery.

Zhu said that the potential risks of global economy cannot be ignored in an environment of deleveraging, and warned that global inflationary risks need to be monitored. He said banking-sector deleveraging will be a long and bumpy process.

As for the emerging markets, Zhu said that with moderate recession in Europe, more negative impact will come from external areas. Internally, big challenges such as inflation have not gone away.

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