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Economists: China will not face recession after Olympics
Posted on Tue, 04 Mar 2008 11:18:03 Author : From : Chinadaily
China
"I was frequently asked during my just-ended trip to Europe if China would face recession caused by investment declines after the Games, and 'no' was always my answer," said Justin Yifu Lin, a deputy to the 11th National People's Congress (NPC), the top legislature.
It is mainly because that the volume of Chinese economy is much larger than some Olympic hosts that experienced post-Olympic recession, said Lin, who is also the World Bank's new chief economist and newly appointed senior vice president.
There will be plenty of investment prospects in the fields of infrastructure and industrial upgrading, while the consumption growth and foreign investment will remain at high level, said Lin.
Besides,
Professor Li Yining, a noted economist and political advisor, said some Olympic hosts faced recession after the Games because investment dropped, many people working for the Games had to seek new jobs and the influence of the Games, without the backup of certain industries, faded.
However, such problems would not reoccur in
The NPC and the CPPCC will open their annual full sessions on March 5 and March 3, respectively.
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