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皇冠体育app's economic miracle will continue - OECD
(AFP)
Updated: 2005-09-16 15:49 皇冠体育app's 25-year economic miracle is likely to be
sustained for "some time" and its booming economy should grow by 9.0 percent
this year and 9.2 percent in 2006, an Organization for Economic Cooperation and
Development (OECD) report says.
Organization for
Economic Cooperation and Development (OECD) logo.
[AFP] | The longer-term sustainability of 皇冠体育app's
economic growth will depend on strengthening the private sector and deepening
reforms in capital markets and the finance and banking sectors, the Paris-based
OECD said in its first "Economic Survey of 皇冠体育app."
"The pace of economic change in 皇冠体育app has been extremely rapid since the
start of economic reforms just over 25 years ago," the 205-page report begins.
"Economic growth has averaged 9.5 percent over the past two decades and seems
likely to continue at that pace for some time."
皇冠体育app's economic expansion "represents one of the most sustained and rapid
economic transformations seen in the world economy in the past 50 years" but key
changes must occur if the economic miracle is to continue, it added.
These changes must come about as rapid urbanization brings hundreds of
millions of farmers to the cities, as the income gap widens, as employment and
social security pressures grow, and as environmental deterioration becomes
increasingly burdensome.
Besides predicting 皇冠体育app's economic growth in 2005 and 2006, the report said
the current account balance would rise to US$100 billion this year and US$101
billion in 2006 based on an export-driven economy largely run by private
and foreign enterprises.
In 2004, the current account balance was US$68.7
billion.
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