World economic growth slowing down but structural adjustment accelerating
Updated: 2019-01-21 15:58
There's little likelihood the world economy will enter a recession in 2019, according to Xu Mingqi, a researcher of Shanghai Academy of Social Sciences, because the underlying drivers of growth still exist.
The SASS website quoted Xu as saying that the world is on the eve of the fourth scientific and technological revolution, and that structural adjustment is gaining momentum.
Xu concedes that the negative impact of United States' anti-globalization and trade protectionism will be felt this year, but adds that challenges in global governance will promote bilateral and regional cooperation, and we may see more breakthroughs in bilateral and regional trade and investment arrangements.
Under the WTO framework, new multilateral negotiations may also be launched, reflecting the international community's objective desire to continue to safeguard the global multilateral free trade and investment regime.
Cooperation and coordination for win-win development will continue to be the major trends in 2019, Xu said, adding that economic globalization will make structural and benefit distribution adjustments, but it will not go backwards.
There's little likelihood the world economy will enter a recession in 2019, according to Xu Mingqi, a researcher of Shanghai Academy of Social Sciences, because the underlying drivers of growth still exist.
The SASS website quoted Xu as saying that the world is on the eve of the fourth scientific and technological revolution, and that structural adjustment is gaining momentum.
Xu concedes that the negative impact of United States' anti-globalization and trade protectionism will be felt this year, but adds that challenges in global governance will promote bilateral and regional cooperation, and we may see more breakthroughs in bilateral and regional trade and investment arrangements.
Under the WTO framework, new multilateral negotiations may also be launched, reflecting the international community's objective desire to continue to safeguard the global multilateral free trade and investment regime.
Cooperation and coordination for win-win development will continue to be the major trends in 2019, Xu said, adding that economic globalization will make structural and benefit distribution adjustments, but it will not go backwards.
