Latest News:  


Inflation likely to become a major problem in 2013

(People's Daily Online)

16:49, January 04, 2013

The world economy will remain complex and variable, and maintain slow growth in 2013. Protectionism will rise in various forms, and the pressure of potential inflation and asset bubbles will expand. The world economy has moved from the fast development period before the global financial crisis into a period of deep transformation, according to China's annual Central Economic Work Conference held in Beijing from Dec. 15 to Dec. 16.

Gao Cheng, an associate research fellow at the National Institute of International Strategy under the Chinese Academy of Social Sciences, believes that the world economy will maintain weak growth for some time, and it is difficult to reverse this trend through conventional fiscal and monetary policies. At present, it is imperative to conduct comprehensive, systematic, and deep transformation of the world economy. The accurateness and effectiveness of this transformation will exert a far-reaching impact on the long-term development of the world economy and the competition among various countries.

Xie Dongming, an economic analyst at OCBC Bank in Singapore, said that the world economy will remain fraught with uncertainty next year. The U.S. fiscal cliff is still unresolved, and Europe continues to be plagued by the debt crisis despite gradual improvements. The Asian economy enjoys bright prospects, and Southeast Asian countries remain strong in terms of investment and domestic demand, which can offset the decline in external demand to a certain degree. The Asian economy is expected to improve next year, while the world economy will continue to recover slowly.

Xiao Lian, director of the Center for U.S. Economic Studies at the Chinese Academy of Social Sciences, said that developed countries have adopted a beggar-my-neighbor policy by taking advantage of the unfair international economic system and order to export their economic crises to other countries. This policy has not only damaged the common interests of all countries, but also affected the recovery and development of developed economies themselves.

【1】 【2】

Read the Chinese version: 通胀将是明年世界经济一大隐忧

We recommend:

BJ-GZ HS to add 30b yuan to GDP annually

Great changes in Zhengzhou railway station

Wanda Group ventures onto the global stage

Sports car makers look to mainland market

Top Ten Economic Events in 2012

'Gold road' laid with gold bars

Email|Print|Comments(Editor:梁军、Yao Chun)

Leave your comment1 comments

  1. Name

wende at 2013-01-0498.109.105.*
With the slow economy, Chinese businessmen should produce their own brands to replace the foreign brands and keep China"s wealth within China. This is not protectionism but a way out to prevent China stays as a factory that enriches foreign bosses. It is definitely a good time to buy quality Chinese products and save on foreign exchange.

Selections for you

  1. NBC emergency rescue team

  2. Anti-terror exercise conducted in S. Korea

  3. Finalists in Sydney to compete for Best Jobs

  4. Girl travels 16 hours to save wounded eye

  5. Percussion shows me the world

  6. No quick way
    to a job

  7. Nanhaizi Park: An ecological garden

  8. Most beautiful Chinese celebs

  9. HK's new terminal receives luxury liner

  10. Hilton to open 120 new hotels in China

Most Popular


  1. Whistleblower welcome in China
  2. Chinese brands in global marketplace set to grow
  3. Surveillance programs reveal U.S. hypocrisy
  4. People's Daily urges safety after deadly accidents
  5. Equities slump amid slow-growth estimates
  6. World owes Snowden debt of gratitude
  7. Male teachers needed at Chinese kindergartens
  8. Hard times for air pollution
  9. Road ahead for China's food safety
  10. Showdown of China's Big Three cities

What’s happening in China

Developer razes historic Guangzhou structures

  1. 1 dead in NE China construction site accident
  2. Beijing set to rein dangerous dogs
  3. Quest for 2nd child exposes couple’s private life
  4. 'Alien' buster turns out to be a faker
  5. Japanese citizens detained for fraud, murder