Contact us

Company Name:
Lishui Huanqiu Bearing Trading Co., Ltd.

Company Address:
No.11 Shiting Road, Shuige Industrial Zone,Lishui, Zhejiang,China
Contact Person: William

Email: admin@tradebearings.com
Homepage: www.asiabearings.com
Bearing B2B: www.tradebearings.com

email

 

Home > News >

World Bank cuts growth outlook as advanced nations drag

A frustrating developed countries slow economic recovery, the global economy, the world bank said on Tuesday, slash in the 2013 world economic growth prospects.
The world bank predicted that global gross domestic product (GDP) will slowly rose 2.4%, since this year, at 2.3% in 2012. In its latest forecast, June, the bank is expected to global economic growth in 2013 will reach 3.0%.
Andrew burns, the bank's global economic prospects and the lead author of the report, said the bank had a recovery is expected to last expected "closer to the end of the first quarter, and in the second quarter 2013, rather than start earlier a little."
The bank warned that can play a long political struggle, the United States to improve the government's borrowing limit and cut spending growth, cause dollar lose confidence, and panicky financial markets.
The world bank also cut for developing countries speaking, than last year the corresponding period grows the slowest pace in ten years, from June forecast of 5.9% to 5.5%, 2013 years of prediction. It says, in these countries should increase slowly picks up, up to 5.7%, next year and 5.8% in 2015.
In 2007 in the global financial crisis impact, developing countries as a whole, the efflorescence of the growth rate of about 7.5%, and China's rising at an annual rate of 10%.
The world bank forecast this year, China's economic growth will reach 8.4%, to 2015 will slow to 7.9%.
In comparison, the growth of the developed economies should reach a very weak 1.3% this year, drag through spending cuts, high unemployment and weak consumer and business confidence index, the world bank said. Activities to strengthen the next year was 2% and 2.3%, 2015.
Although financial markets to boost the last solve the eurozone debt crisis measures, the world bank urged Washington to draw the outline of a credible medium-term financial plan, "avoid brinkmanship" excessive improve the country's self imposed debt ceiling.
The White House and congress agreed to began in January, prolong the tax cuts for American family income of less than $450000 of trading in the financial part of the cliff. However, lawmakers must browse debt ceiling, and discuss in the heat of the automatic spending cuts, until March 1 trading.
"Policy uncertainty (in the United States) have contusion growth, the world bank said." "If policymakers do not agree with these measures, can reduce the monetary confidence, the overall market losses increase the tension, the United States and global economic growth were 2.3% and 1.4% respectively.
Burns urged developing countries monetary policy "keep a steady hand", and is not too strong to react to changes in the developed countries. He said, developing countries should focus on the structure of the policy and investment to support continued growth.
The bank said, most developing countries in or close to "full load" and the additional effort to improve yield hit the inflation rate of the risk of collision.
At the same time, the world bank said, in China's unusual high investment rate of the decline is unlikely to affect the growth of the global economy long-term, but warned that fell sharply, the domestic and global influence.
The world bank economic simulation shows that the investment in China by the reduction of 10%, it will lead to a slowdown in China's GDP growth around 3%.
The bank said a bitter between China and Japan's territorial row in the east China sea island Japan exports to China produced certain effect.



Other News:
HK billionaire Li buys NZ waste company for $412M
World Bank cuts growth outlook as advanced nations drag
U.S. economy to grow 2.5 percent this year: Fed's Evans
Hostess to sell breads to Flower Foods for $390M
Grand Cherokee SUV makes jump to diesel power
Hostess finds buyer for Wonder, Nature's Pride
Republicans add "temperament" to questions about Hagel at Pentagon
Greek gold mine savior to some, curse to others