Global economic recovery still fragile: World Bank's Lin
Source: xinhua Date: 2009-11-12
The world economic recovery is still fragile, World Bank Senior Vice President and Chief Economist Justin Yifu Lin said Monday.
Delivering a lecture on the global financial crisis and economic imbalance at the University of Hong Kong, Lin said there were still many uncertainties in the prospect for the global economy.
The World Bank projected a contraction of 2.1 percent for the world economy in its latest forecasts, he said.
The current world economic recovery can be partly attributed to the effect of the stimulus measures worldwide and the restocking of inventory, Lin said.
The recent comments by world economic leaders showed that it was still unlikely for them to exit from the stimulus packages in the short run, he said.
Lin said it is necessary for economies, including the United States and China, to work together in the long run to address the structural imbalance exposed in the crisis.
Delivering a lecture on the global financial crisis and economic imbalance at the University of Hong Kong, Lin said there were still many uncertainties in the prospect for the global economy.
The World Bank projected a contraction of 2.1 percent for the world economy in its latest forecasts, he said.
The current world economic recovery can be partly attributed to the effect of the stimulus measures worldwide and the restocking of inventory, Lin said.
The recent comments by world economic leaders showed that it was still unlikely for them to exit from the stimulus packages in the short run, he said.
Lin said it is necessary for economies, including the United States and China, to work together in the long run to address the structural imbalance exposed in the crisis.
