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.
- Landlords prepare to sell off 500,000 properties this year as buy-to-let tax changes bite
- Three in four employees believe they will be worse off in retirement than their parents
- Nearly 90% of London parents fear housing costs will force their children out of the capital
- Broker view: Severn Trent recommended as a "hold" on trading update
- Savers count the £160bn cost of record low interest rates
- Investing in China in the Year of the Monkey: Investors need to be nimble and smart
- Pension ISA at risk of being a 'Gordon Brown moment'
- Sterling jumps on positive UK services data
- Four AIM stock tips for intrepid investors to consider for their ISA
- Financial fibs: 3 in 10 keep money secrets from their spouse