Asia Times Country economic review People's Republic of China. This report is reproduced with the kind permission of the Asian Development Bank (adb.org) 1. Executive summaryThe People's Republic of China (PRC) successfully weathered the Asian crisis. Threeconsecutive years of expansionary fiscal policy and interest rate reductions enabled the countryto contain the adverse effects of the Asian crisis, maintain a stable exchange rate, and achieverobust growth.
Strong economic growth continued in the first three quarters of 2000 when grossdomestic product (GDP) grew by 8.2 percent. After a marked slowdown in the aftermath of the Asian crisis, PRC's exports have grownstrongly, beginning in mid-1999 and continuing in 2000. There is scope for continuing the accommodative stance of monetary policy without causing undue inflationary pressure. Adjusting for these factors, the fiscal situation is weaker than it appears and has the potential to pose a constraint on sustained economic growth. The PRC is likely to become a member of WTO in early 2001. C. China (also see separate Hong Kong and Taiwan entries) Economy - Flags, Maps, Economy, Geograph. World Economic Outlook Database May 2001. Changes to the database: May 2001 Greece is included in the euro area. Cyprus is included in Advanced Economies. It was previously included in Middle East and Europe under Developing Countries. Asia is replaced by the title Developing Asia. There is no difference in the composition of the group.
The WEO database is created during the biannual World Economic Outlook (WEO) exercise, which begins in January and June of each year and results in the WEO publication, which is released in May and October. The WEO exercise is coordinated by the World Economic Studies Division in the Research Department. WEO projections are prepared by the country desk economists in area departments on the basis of internationally consistent assumptions about world economic activity, exchange rates, and conditions in international financial and commodity markets. How the WEO estimates differ from those in International Financial Statistics Data and File Conventions Please note the following: Group A Countries.
WORLD ECONOMY & CHINA. National Bureau of Statistics of China. Economagic Economic Time Series Page.