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Article: US subprime crisis to have little impact on China:WB chief.
- Article from:
- PTI - The Press Trust of India Ltd.
- Article date:
- February 25, 2008
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US subprime crisis to have little impact on China:WB chief
Beijing, Feb 25 (PTI) World Bank's new Chief Economist and Senior Vice President Justin Yifu Lin has said that the sub-prime crisis would push the US economy into recession but it would have a limited impact on China.
Lin said the subprime crisis hurt consumer spending and the declining dollar would add inflationary pressures by making the imports more expensive, both of which would lead to stagflation in the US.
He said demand by the US for Chinese imports would not come down by a large margin as most of the imports were at low and middle-end which meant the subprime crisis would have a ...