2013-05-07 World Economy in the Eyes of Dr. Robert Wescott 
    2013-05-06 18:03:22     CRIENGLISH.com         Web Editor: Qian Shanming

PIK reporter Nathan Wakelin-king talks to Dr. Robert Wescott, an economic advisor to former U.S. President Bill Clinton. on April 16th, 2013. [Photo Source: CRIENGLISH.com]

Even though the world economy still feels the reeling effects of the global financial crisis, more signs of recovery have started to emerge, adding confidence to the global market. The United States, for instance, saw its unemployment rate drop to 7.5 percent in April, the lowest since October 2008.

In Europe, previous concerns over major EU members such France and Italy being on the verge of needing financial bailouts look overblown at the moment. In China, despite talk of a slowdown, the growth of the country's GDP still looks impressive compared with the rest of the world. The official figure for GDP growth in the first quarter stood at 7.7 percent. CPI, a gauge of inflation, remains low. But the world still must keep an eye on prevalent easy monetary policies pushed by the world's major central banks. Japan, for instance, has sought to revive its economy through loose monetary polices. The U.S has put in place several rounds of quantitative easing measures. And the European Central Bank has just lowered its interest rates.

So how is the world economy faring at the moment? And will China continue to be the engine for global recovery amid slower growth?

Ni hao, you're listening to  People In the Know, bringing you insights into the headline news in China and around the world. I'm Zheng Chenguang in Beijing.

On this edition of the program, "People in the Know's" Nathan Wakelin-king speaks to Dr. Robert Wescott, an economic advisor to former U.S. President Bill Clinton. We caught up with him at the Pioneer Investments' Colloquia Series in Beijing, an annual economic thought leadership event that brings together a range of leading global figures, including Nobel Laureates.



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