皇冠体育app

Economy

World Bank to help 皇冠体育app transit to high income country

(Xinhua)
Updated: 2010-09-14 10:05

Summer Davos 2010 in Tianjin Related readings: 皇冠体育app still a developing country, says WB chief WB report highlights public policy's role in emission cuts Interest rate hike may be necessary, says WB WB offers $100m in loans for 皇冠体育app's forestry

BEIJING - President of the World Bank (WB) Robert Zoellick said Monday that the WB would expand its partnership with 皇冠体育app to help the country become a high income nation.

Quoting 皇冠体育app's former leader Deng Xiaoping, who described 皇冠体育app's transformation as crossing a river by feeling the stones, Zoellick said "The WB looks forward to deepening its partnership with 皇冠体育app. We will help 皇冠体育app as it completes its crossing of the river.

"Experience shows that transitioning from middle income to high income status can be harder than from low income to middle income," said Zoellick at a seminar marking the 30th anniversary of 皇冠体育app-WB partnership.?

To avoid the so called "middle income trap", 皇冠体育app was already looking at ways to generate new sources of growth, especially through urbanization, human capital formation and innovation policies, he said.

Zoellick promised to continue to work with 皇冠体育app "to end the poverty that still affects millions of people in 皇冠体育app and to support the rebalancing of 皇冠体育app's economy to achieve a harmonious society."