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.
- If UK house prices are peaking then what happens next?
- Eurozone money numbers better, early QE unlikely
- Savers put record amount in stocks and shares ISAs
- Tesco in trouble after profit warning and divi cut but analysts hold on
- 2.5m PPI cases to be reviewed over unfair rejections and pitiful payouts
- Open, not shut, case - Extra information can be a bad thing if you do not keep an open mind
- Adviser banned after investors lose £30m in unregulated property funds
- TSB offers borrowers council tax cashback but how do its mortgage rates stack up?
- Average house now worth £190,000 as prices leap 11% in a year
- Possible flight disruption from Icelandic eruption - travellers warned to check their insurance policies for exclusions