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IMF: China's Economic Growth Rate to Top the World
According to the World Economic Outlook 2000 published by the International Monetary Fund (IMF), China's economic growth rate in 2001 is estimated to be at 7.3 percent, the highest among the major countries in the world.
The economic growth rate of China's mainland in 2000 is estimated by IMF to be at 7.5 percent, while that of Hong Kong SAR and Macao SAR respectively at 8.0 and 6.5 percent, all on top of the world list.
Some foreign investment banks express the confidence that China will play a pillar role in the Asia's economy as a whole. Merrill Lynch also predicts that China will become a driving force in the Asian market.
After comparing China's economic prospect with that of Japan, Merrill Lynch researchers hold that both China and Japan are taking positive financial policies to stimulate economy, but China's economic growth is likely to exceed market estimates. Yet it is hard to forecast how successful Japan's financial measures will be.
Those researchers also point out that domestic demands prove to be pivot to China's economic boom. It is China, not Japan that can help drive Asia's economy should the housing market in China see a sound development. In the domestic market, China still retains great potential demands to motivate the economic development after the year 2000.
By PD Online staff member Huang Ying
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