India, China new leaders in world economic growth: IMF

[OhioChick]

Source: Zee News India

Manila, July 31: China and India are the new engines of world economic growth, replacing the united states and other developed countries, International Monetary fund Managing Director Rodrigo Rato said Tuesday.

He said China overtook the United States this year to become the biggest contributor to world economic growth.

"For the first time, the largest contribution to global growth will now be made by China," Rato told a business conference in the Philippines.

"Looking ahead, we expect this pattern of growth to continue... We expect China -and increasingly India - to grow in importance as engines of global growth."

He said China would grow by more than 11 percent and India at around nine percent this year, with almost equal rates in 2008.


Read more: http://www.zeenews.com/articles.asp?aid=386118&ssid=50&ssname=Economy&sid=BUS&sname=LATEST-BUSINESS-NEWS

[Cobalt Violet]

1. So we are the old dead engine in the junkyard. n/t

[acmavm]

2. Maybe they'll outsource some jobs to the broken down old USA

[Deja Q]

9. A one-world government would ensure we'd all be working together...

True globalization, not apparent migration.

[David__77]

3. China has been the engine of growth for 15 years.

It's truly amazing how it has economically expanded. Like the US boom of the late 1800's, it's coming at a high social cost, but it will pay returns in the long run.

[pschoeb]

4. Well, I would hope so, as the make up almost half the world's population

nt

[Deja Q]

7. Well, that's their problem.

[Deja Q]

5. Thank the US for that.

[OhioChick]

6. Bingo. n/t

[Deja Q]

8. Except any article that would discuss India or China threatening the US economically has no right.

No right to do so. Not the article, the country that has prospered because of us. (All those articles of growing big middle classes fly in the face of any suggestion they're being exploited.)