UN report: China will become the world's second largest economy this year

"In 2010, developing economies in the Asia-Pacific region, led by China and India, are expected to grow by 7% per cent." China's economic growth is expected to reach 9.5%, India is expected to reach 8.3%.　　　　The United Nations Economic and Social Commission for Asia and the Pacific (ESCAP) May 6 synchronized The Economic and Social Survey of Asia and the Pacific in 22 cities around the world, which analysed the economic recovery in the Asia-Pacific region and provided specific ECOSOC policy recommendations to the region's governments.　　2010 Asia-Pacific Economic growth will be 7% the survey shows that even at the worst of the global financial crisis, the region is still the fastest growing region in the world, benefiting from the fiscal stimulus package of the largest economies in the Asia-Pacific region; in 2009, the Asia-Pacific region, which accounted for 62% of the world's population Some countries with a higher share of domestic demand in GDP such as China, India, Indonesia, the crisis impact relatively small, the 3 countries in 2009 economic growth of 8.7%, 7.2%, 4.5%, and Singapore, Taiwan, Thailand and South Korea and other relatively export-dependent countries and regions, the impact of the crisis is relatively large, The 4 increase in 2009 was 2%,-1.9%, 2.3% and 0.2%. According to the survey, the subregions most affected by the financial crisis are north-east Asia, Central Asia and Russia.　　In 2009, the Asia-Pacific region's unemployment rate rose from 4.6% in 2007 to 5%, with the absolute number of unemployed reaching 94.1 million, an increase of 8.2 million per cent before the 2007 financial crisis.　　However, in the past year, the Asia-Pacific region has been a general economic rebound, the Asia-Pacific major countries in 2010 economic growth is expected to be above 4%, coupled with a number of "leading countries" led by the Asia-Pacific region 2010 economic growth of up to 7%. China will be the world's second-largest economy this year "China will continue to grow rapidly and become the world's second-largest economy in 2010". The UN's latest report says China will play a key role in helping the region achieve a transition from "economic recovery" to "long-term, balanced and sustainable development".　　The report stressed that China should play a leading role in promoting "green technology development" and guiding "domestic production and consumption towards sustainable road development". Huang, a professor of economics at Peking University's China Economic Research Center, said: "China's exports were 20%~30% year-on-year in early 2008, while the beginning of 2009 fell by 20% per cent, before and after a total difference of 40%." Therefore, the financial crisis on China's exports still have a big impact.　　"However, China's GDP grew by 11.9% per cent in the first quarter of this year, and the upturn has been significant in terms of exports, industrial production, investment and consumption," he said. Turning to monetary policy, Huang said China's loans amounted to 9.6 trillion trillion yuan last year, twice times the average year; new loans will reach 7.5 trillion yuan this year and 1.5 times times the average year. He recognizedFor this year, the country will adopt a "recycling currency" policy, but the exact amount is still uncertain, because "the risk is very big this year." The UN's latest report also gives a series of recommendations to Asian and Pacific countries and regional governments. The report first urged countries and regional governments to increase social spending to bolster the region's stronger economic rebound than expected. The United Nations Under-Secretary-General, ESCAP executive Secretary Noeleen said: "The government must invest in social welfare programs to help those who have suffered most from the crisis, while also taking measures to reduce poverty."　　"At present, nearly 1 billion people in the Asia-Pacific region still live in poverty," he said. The survey believes that to achieve the long-term development of all economies in the Asia-Pacific region, it is necessary to increase "intraregional" trade and expand consumption in the region in response to trade protectionism against developing countries in the aftermath of the recession in developed countries.　　At present, the Asia-Pacific region's trade links with Europe and North America are closer than intraregional trade. BEIJING, May 7 (Xinhua)