The World Bank predicts India's economy will grow faster than China's for the first time next year

The World Bank's gloomy forecast of the global economy, released 22nd, is a blockbuster, triggering a sharp shock in the markets of the world's major economies. 22nd, Europe and the United States stock market plunged, 23rd in Asia and emerging market countries also generally low stocks. In addition, commodities and major national currencies also plunged.　　A financial expert told Global Times on 23rd that the World Bank's pessimistic forecasts were only one of the triggers for the global stock and commodity price adjustment, and that the real reason behind it was the collapse in expectations of a rapid global economic recovery and the logic of internal adjustment caused by the early excesses of the market. "On the face of it, the bank has poured cold water on the global economy, but the real factor behind it is a realignment of market valuations," the bank reported on 23rd, citing an investment analyst in Melbourne.　　"The report of the Associated Press on 22nd said that the pace of economic recovery in the past few weeks had been thought to be faster than expected, but the bank's reports added to concerns that they needed more tangible data to support the recovery. According to Bloomberg, the World Bank has raised the global recession sharply to 2.9% from its previous forecast of 1.7% per cent. The report warns that the global economy is entering a period of low growth, with advanced economies such as the US and Europe falling by 4.2%, and that the developed world's capital inflows to developing countries will fall sharply, which will hit emerging economies hard.　　The global economy is in a much worse recession than expected. In a remark, the US Dow Jones index plunged 2.4% in Monday, the most in two months, and S & P fell below the 900 key psychological barrier, 23rd, the Dow Jones Index opened a micro-increase. The London Financial Times Index, Germany's DAX stock index, fell sharply on 22nd and rebounded slightly the next day. At the same time, the NYSE 22nd delivery of crude oil futures price of 66.93 dollars per barrel.　　Prices of 6 metals in the London futures market also fell 5.4%, the biggest drop since January 27 this year. India cheers for next year China's Wall Street Journal, 23rd, reported a "fear of growth leads to market decline", the report said the slump on the one hand, profit-taking factors, on the other hand by the World Bank pessimistic report.　　Although many analysts are optimistic about some of the developing countries, such as China, they are concerned that it is hard to influence the global economy under the dominance of the US and Europe. For the World Bank's report, the Indian media is more concerned about the first time India's economy grew faster than China in 2010. "India's 2010 economic growth over China", 23rd, said the bank's report on 22nd predicted that India's 2010 GDP growth rate will reach 8%, if India can achieve this goal, it will become the world's fastest-growing economy,　　Even faster than China's growth ——— the bank predicts China's growth rate for next year will be 7.7%. The report said that the forecast affected India's domesticHopes for a rebound in the economy have become more intense, and the bank's forecasts for India will increase foreign investor interest in India.　　The report of the Times of India, 23rd, said that despite the frustration of the bank's reports, growth in emerging economies, led by India and China, will reach 4.4% in 2010, and 5.7% in 2011. The world economy is not in the economic recovery although a period of time, many people are optimistic about the prospects for global economic recovery, a lot of heavyweight economists are still cautious. The chairman of the White House Economic Recovery Advisory Board, Volcker, said recently that the U.S. economy is expected to resume growth later this year is reasonable, but a strong recovery is unlikely to occur, the U.S. unemployment rate will continue to remain high.　　2006 Nobel laureate in economics, Phelps, said in an interview with Bloomberg Television 22nd that it will take 15 years for Americans to recover their family wealth. Boston Global Consulting, which recently conducted a detailed analysis of 61 economic indicators in the world's advanced economies, concludes that while there are some positive signs in the global economy, it is too early to talk about a recovery. The report says the current US consumer market and credit markets are still not back to normal and banks are not yet healthy.　　America's economic recovery is likely to be a U-shaped one, which will have a longer period of recession. The Washington Post, 23rd, quotes Justin Yifu Lin, the bank's vice-president and chief economist, as saying that countries are facing restrictions on the introduction of further stimulus packages due to pressure to shrink the government's fiscal deficit.　　"This will hamper the global economic recovery". There's no need to be overly pessimistic. Zuo, chief economist of China Galaxy Securities, said in an interview with Global Times 23rd: "I still insist on the world economy before the world economy has bottomed out, but not the end."　　Zuo explained that the previous inclusion of the media's interpretation of the world economic data had unduly elevated expectations of a global economic recovery and that the market is now back to reality. One analyst told Global Times that since the end of March, the market has been filled with "the worst of the past" sentiment, the long suppressed speculative willingness to explode, so that the U.S. stock in less than 3 months time to rebound 40%, once the economic recovery is suddenly found to be too soon, has been overly hyped "recovery "The subject of sudden disillusionment, so once abandoned in the side of the risk aversion will rise again, which is the main cause of market adjustment." Still, it is hard to imagine stocks, commodities and foreign exchange markets returning to the dismal situation in the second half of last year, the analyst said. People are aware that this is a bear market, but it is a bear market the second half of the Tuesday European stock markets generally a small rebound, is to illustrate the market is not willing to go to the dilemma, and this situation is expected to continue for a long time.