Press Release, 30 June 2010
Due to Global Crisis, China and East Asia Need to Rethink Their Growth Strategy.
Using new methods of calculation, the South Centre assesses that China has been much more deeply dependent on exports for its growth that previously estimated. The Centre estimates that exports contribute about 50% of China’s recent pre-crisis growth. This high export dependence makes China more vulnerable than normally perceived to the slowdown in the US and Europe. In the medium term, China will not be able to return to reliance on exports to maintain its pre-crisis growth of 10% or more.
This article was tagged: Financial Crisis