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Strategies & Market Trends : Mish's Global Economic Trend Analysis -- Ignore unavailable to you. Want to Upgrade?

To: RealMuLan who wrote (20733)	1/7/2005 5:35:26 PM
From: RealMuLan	Respond to of 116555

[Now this is getting serious<g>] --"World Bank says China faces big problems" UPI - Friday, January 07, 2005 Date: Friday, January 07, 2005 6:09:57 AM EST BEIJING, Jan. 7 (UPI) -- The former head of the World Bank office in China said the country faces severe sustainability challenges, especially regarding oil and water. Yukon Huang, a senior advisor at the bank, made the comment at a seminar organized by the Institute for Southeast Asian Studies based in Singapore. Huang said Thursday that China's reliance on oil imports, plus problems with environmental protection, including serious water shortages, pose major threats to the country's economic development over the next three to five years. The World Bank official said sustainability issues were a much greater threat to China's development than political or economic risks, such as the massive quantity of bad loans held by the nation's state-owned banks or a potential conflict over Taiwan. Huang believes China's economic growth, which was 9 percent in 2004, is likely to fall to a more moderate 6 to 7 percent in coming years, and that future growth will come from greater productivity rather than new investment. -- Copyright 2005 by United Press International. All rights reserved. menafn.com