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Chinese think tank predicts global economy will grow by 2%-3% next year

(Xinhua)
Updated: 2009-12-25 10:57
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The global economy is expected to grow by 2 to 3 percent next year, according to the Yellow Book of Global Economy for 2010 released Thursday by the Chinese Academy of Social Sciences (CASS), China's top think tank.

2009 will be the first year for the global economy to experience negative growth since the World War II, the Yellow Book said.

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The global financial crisis, in the main, has been contained so far, and most economies affected by the crisis have shown signs of recovery, but it is still too early to draw the conclusion that the world has got rid of economic downturn, it said.

The global financial market is still sensitive and unstable, while the US currency is expected to continually depreciate for a long time, it said.

Multinational corporations are upbeat about the environment of foreign direct investments in 2010, the Yellow Book said, adding that China and other rising economies in Asia will be most attractive for international capital flows.

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