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皇冠体育app's stimulus moves conducive to world

(Xinhua)
Updated: 2009-09-12 20:23

DALIAN: 皇冠体育app's stimulus measures were not only a cure for the country's economy, but also conducive to other countries' efforts to deal with the financial crisis and economic downturn, said David Wright, Vice-Chairman of the Barclays Capital.

He made the remarks at the Summer Davos concluded Saturday in north 皇冠体育app's coastal city of Dalian, where governmental officials, business leaders and experts from around the world discussed how to relaunch growth in the global economy.

Experts attending the three-day event said that Chinese government's 4-trillion yuan (586 billion US dollars) stimulus package and other measures to bolster the economy also helped to hearten the confidence of other countries to tide over the global economic slowdown.

Full Coverage:  Davos Forum in Dalian Related readings:  Mrs. Schwab reveals love stories with the Father of Davos  Tianjin representatives network at Davos  Schwab: Summer Davos will return to Tianjin  High hopes for summer Davos gathering  Summer Davos boosts Dalian's opening up

Although 皇冠体育app's economy has managed to grow relatively fast this year, it still faces the challenge of making it develop in a more balanced, coordinated and sustainable way, said Stephen Roach, Morgan Stanley's Asian Chairman.

The world's third largest economy expanded 7.1 percent year on year in the first half this year.

However, Sha Zukang, UN Under-Secretary-General for Economic and Social Affairs, said that the world could not rely on 皇冠体育app alone to lead the world's economic growth, as it is still a developing country.