皇冠体育app

2010-09-16 16:34

BEIJING - Robert Zoellick, President of the World Bank (WB), said Wednesday the major task for 皇冠体育app in the future is adjusting its economic structure and accelerating the transformation of its growth pattern.

Zoellick made the comments at a press conference during his visit to Beijing to mark the 30th anniversary of 皇冠体育app-World Bank ties.

The coming 12th Five-year Plan (2011-2015) will present an opportunity for 皇冠体育app to shape its post-crisis economy and return to its economic rebalancing agenda, he said.

Like other economies, 皇冠体育app is facing new challenges, like credit expansion in both the short- and long-term, he said.

The WB will work with 皇冠体育app and help it achieve a better balance between domestic demand, export-driven growth, consumption and investment, he said.

On the exchange rate of the renminbi, 皇冠体育app's currency yuan, Zoellick said the yuan's appreciation will force 皇冠体育app's industrial sector to restructure more pro-actively.

However, the fundamental issue for the global economic imbalance is still structural, he added, saying the United States should save more while 皇冠体育app increase domestic consumption.

Zoellick praised 皇冠体育app's response to the global financial crisis, saying 皇冠体育app's rapid recovery "benefited not only developing economies but developed ones as well."

He also warned about uncertainty in the world's economic recovery, emphasizing the contribution of developing countries for the process.