Economic growth set to fall next year

Updated: 2011-12-27 08:18

By Lan Lan (China Daily)

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A member of an influential think tank predicts a slowdown for China in 2012

BEIJING - China's economic growth is expected to fall to about 8.5 percent in 2012, but only if the ongoing eurozone debt crisis doesn't evolve into a new global economic meltdown, a senior economist of the State Council's policy research think tank said on Monday.

In an exclusive interview with China Daily, Yu Bin, director-general of the department of macroeconomic research at the Development Research Center of the State Council, said that economic growth is likely to dip below 9 percent in the fourth quarter, but full-year growth may be slightly higher.

"Eastern coastal cities saw obviously slower economic growth in 2011. Meanwhile, the potential for additional investment in infrastructure continues to shrink, signaling that the potential for economic growth has started to decline," said Yu.

China has entered the final stages of high-speed economic growth after three decades of rapid expansion, said Yu, adding that the economy is under pressure, caused by short-term sluggish demand overlapping with a slower potential growth rate in the medium and long terms.

Emerging economies, often seen as the engine of the global economy, are incapable of "unhooking" their connection with the dismal economic situation facing developed economies, influenced by market fluctuations and deteriorating environments for exports and asset fluidity.

Economic growth set to fall next year 

Economic growth set to fall next year 

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