World Video | Defence | Foreign Affairs | Natural Events | Trade | NZ in World News | NZ National News Video | NZ Regional News | Search


China's growth significant for global economy

China's growth significant for global economy

China's rapid growth and expanding trade have significant potential benefits for both the global and regional economies, said Horst Kohler, managing director of the International Monetary Fund (IMF) on Monday Sept. 1 in Beijing.

Kohler said during a luncheon address that China is contributing to regional growth, "as evidenced by its large and expanding role in intra-Asian trade."

"Rising imports of goods to satisfy domestic demand have made China an increasingly important export destination for many of its trading partners. The expansion of China's trade within Asia has also contributed to rising specialization of production in the region, allowing countries to better exploit their comparative advantage," said the managing director.

China's growing presence in world markets has "clearly increased competition for some producers in other countries, but it also has benefited consumers worldwide," he noted.

Kohler said China's transformation toward a market-based economy and its integration into the global economy have been "dramatic economic developments" for itself as well.

"The process of gradual market-oriented liberalization that China has followed has served the country well. And China's recent steps in line with its commitments under the World Trade Organization accession agreement have further contributed to the rapid expansion of trade and real incomes," he said.

© Scoop Media

World Headlines


Rohingya Muslims Massacred: Restrictions On Aid Put 1000s At Risk

Amnesty: The Myanmar authorities’ restrictions on international aid in Rakhine state is putting tens of thousands of lives at risk in a region where mainly Rohingya people are already suffering horrific abuses from a disproportionate military campaign. More>>


Werewolf: Gordon Campbell On North Korea, Neo-Nazism, And Milo

With a bit of luck the planet won’t be devastated by nuclear war in the next few days. US President Donald Trump will have begun to fixate on some other way to gratify his self-esteem – maybe by invading Venezuela or starting a war with Iran. More>>


Victory Declared: New Stabilisation Funding From NZ As Mosul Is Retaken

New Zealand has congratulated the Iraqi government on the successful liberation of Mosul from ISIS after a long and hard-fought campaign. More>>

Gordon Campbell: On The Current US Moves Against North Korea

If Martians visited early last week, they’d probably be scratching their heads as to why North Korea was being treated as a potential trigger for global conflict... More>>


Gordon Campbell: On The Lessons From Corbyn’s Campaign

Leaving partisan politics aside – and ignoring Jeremy Corbyn’s sensational election campaign for a moment – it has to be said that Britain is now really up shit creek... More>>


  • Pacific.Scoop
  • Cafe Pacific
  • PMC