World Bank warns of economic crisis in China
- 1 March 2012
The FT reported: "Even if Beijing implements steady reforms and avoids any major shocks to the economy, annual growth will decline to 5.9 per cent by 2021 and to just 5 per cent by 2026."
This blog quotes Michael Pettis at China Financial Markets saying: "China could face an economic crisis unless it implements deep reforms, including scaling back its vast state-owned enterprises and making them operate more like commercial firms. The World Bank report apparently doesn't say, but the consensus has been slowly moving down towards 5-6% annual growth over the next few years.
- What has happened to food and energy prices and inflation in 2014?
- Both the Bank of England and the UK Public Finances are having a Mad Hatters Tea Party
- Invesco Perpetual's Mark Barnett on where UK equities go from here
- Mindful Money's weekly share-tips: Sports Direct, Reed Elsevier, Unilever, William Hill and WPP
- AstraZeneca gets a Pfizer boost
- The unanswered question - could new mortgage lending rules restrain house prices - outside London at least?
- Gap between investor income expectations and actual returns widens
- Consumer group Fairer Finance calls on banks and insurers to spare their customers the small print
- Despite greater pension freedom retirees are set to see their income collapse
- Lower earners and self employed may fail to get mortgages as big lenders' computerised decisions apply tougher lending rules