Monthly Briefing on the World Economic Situation and Prospects, No. 18
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April 2010
Summary:
- Net export growth and government spending are driving the recovery in the major economies, while China’s economy is acting as the engine of the global upturn in 2010
- Most of the unconventional monetary stimulus measures undertaken in 2009 are being phased out in line with improved conditions in credit markets
- Donors pledged $9.9 billion at the UN international aid conference on Haiti to support post-disaster reconstruction
Net export growth, along with government spending have led the economic recovery in developed countries since the second half of 2009, according to the most recent economic indicators. The United States, the EU and Japan all reported positive net export growth. Among the major economies, only Australia and China were exceptions to this trend. The indicators further confirm that China has been the leading force behind the global recovery. The pattern of recovery, though, suggests more challenges could lie ahead. In order to sustain the global recovery, more surplus countries would need to strengthen their domestic demand, as imports of Australia and China combined account for less than 10 per cent of world trade.
Download the World Economic Situation and Prospects Monthly Briefing No. 18
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