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UK economic recovery relies on China, Ernst says

Source: Internet
Author: User
Keywords China China several years
Tags demand economic economic recovery economy exit financial process recovery
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London, January 18 (Xinhua) The economic recovery will be more dependent on Asian emerging economies such as China for the next 10 years, the institute said 18th.　　The UK economy faces a "challenging" 2010 years, despite the expected exit from the recession in the fourth quarter of 2009, the Ernst and Independent Financial Model Association reported. "The UK economy has gone through a 10-year debt situation and has stepped into a 10-year painful adjustment process," the report said. "After years of reliance on domestic demand and borrowing, the economy needs to rebalance to build on savings and exports." Otherwise, the economy faces a risk of stagnation. "The report predicts that the UK economy will grow by 1% this year.

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