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'Country's growth benefits world'

(China Daily)

08:45, November 02, 2011

A welder works at the Jianghan Equipment Base of the China Railway 11th Bureau Group in Xiangyang, Hubei province, earlier this year. Cheng Min / Xinhua

LONDON / BEIJING - China's economic growth and economic restructuring benefit the world economy, which is now at risk of recession, say experts.

"China has become the global economy's primary dynamo, generating both growth and opportunity for many of the world's companies within China, whilst massively increasing its own foreign direct investment flows globally," Guy Dru Drury, chief representative of the Confederation of British Industry in China, told China Daily in an exclusive interview.

Clearly the growth and long-term potential of China's domestic economy is of great importance to international business, especially at a time when markets in the developed world are slowing down, Drury added.

China has been responsible for fostering more prosperity than any other economy in the world in the past 20 years, said Kerry Brown, head of the Asia Programme at the London-based think tank Chatham House, who is also leading the Europe China Research and Advice Network, which advises European policymakers on events in China.

As Brown put it, "Indeed, according to the World Bank, were China's figures to be deducted from global GDP, there would have been little wealth creation in the last two decades."

Those comments came just before the G20 summit, which is to take place in Cannes, France, on Thursday and Friday. Among the topics believed to be of greatest interest at the summit are the European debt crises and ways to ensure the sustainable, balanced development of the world economy.


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