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China's Economy to Maintain High Growth: APEC Report
The 2000 Economic Forecast Report by the Asia-Pacific Economic Cooperation (APEC) forecasts that influenced by the slowdown US economy, the economic growth of the countries and regions around the Pacific Ocean will be slower next year, but long-term growth will be promising. The weighted indexes of the average economic growth of 21 APEC member states next year will be 3.5 percent. It is 4.3 percent this year. And the indexes of 1998 and 1999 were 2.2 percent and 3.6 percent respectively.
The report points out that the economic growth of the United States is expected to drop from this year's 4.2 percent to 3.2 percent next year. Despite a decrease in the speed which, however, represents a growth rate that can be maintained for a long time and is beneficial to a long-term economic growth in the Asia-Pacific region.
China's economy continues to maintain a high growth. The growth next year is estimated to be 8 percent, up by one percentage point over this year's 7 percent rate. Japan's economy will remain in the state of revival next year. As a latest official forecast says, Japan's economy will show a 1.5 percent increase.
The report also points out that the general economy of the Asia-Pacific region will see an average annual increase of 2.7 percent in the coming 10 years, among which the average annual increase of developing countries will reach 5.4 percent, and that of the developed countries, 2.1 percent. The economic pattern also shows that economic restructuring will promote the economic growth in the long run. The volume of trade of the Asia-Pacific region will increase by 6.9 percent annually in the coming 10 years. By 2010, the proportion of the trade volume of Asia-Pacific region to the world total will have been increased from the 47 percent of 1999 to 66 percent. The gross trade volume within the Asia-Pacific region will be much higher than that between the countries outside the region.
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