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East Asia and Pacific

China grew faster than its target and most projections in 2009 – what are the key takeaways?

Louis Kuijs's picture
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China’s economy grew 8.7 percent in 2009. This was more than the 8 percent target, despite the global recession that caused global output excluding China to fall about 3 percent. China’s growth outcome is substantially higher than projections made in early 2009. For instance, in our  World Bank quarterly economic update (of which I am the lead author) we projected 6.5 percent GDP growth and some other forecasts were even lower (see Figure 1).

How did these forecasts come about, and what lessons we can draw from the experience of China’s growth in 2009? I cannot speak for my colleagues at the World Bank, let alone for other economists. But, all in all, while I have learned important lessons, I am not sure how differently I would see and do things if again presented with a situation like we were in a year ago.

Зуд: Байгалийн энэхүү гамшиг нь Монголын мал аж ахуйд болон малчдын амьжиргаанд хүндрэл учруулж байна

Arshad Sayed's picture

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(Originally published in English.)

Өнөөдрийн байдлаар Монгол Улс ихээхэн хэмжээний цас, хүйтэн хавсарсан цагаан “зуд” хэмээх байгалийн гамшигт нэрвэгдээд байна. Энэ нь зундаа ган гачигтай байснаас бэлчээрийн хомсдолд орж, өвс тэжээл хангалттай базаах боломж олгоогүй улмаар өвөлдөө цас их орж, салхилан цаг агаар хэвийн хэмжээнээс доогуур болж хүйтний эрч эрс чангарсантай холбоотой.  Бэлчээрийг үлэмж их цас дарж, мал сүрэг бэлчих аргагүй болж, өвс тэжээлээр гачигдан зутрах зэрэг өвлийн улирлын нөхцөл байдалд зуд болдог.

Dzud: a slow natural disaster kills livestock --and livelihoods-- in Mongolia

Arshad Sayed's picture

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(Available in: монгол хэл.)

Mongolia is currently experiencing a white "dzud" – a multiple natural disaster consisting of a summer drought resulting in inadequate pasture and production of hay, followed by very heavy winter snow, winds and lower-than-normal temperatures. Dzuds occur when the winter conditions – particularity heavy snow cover – prevent livestock from accessing pasture or from receiving adequate hay and fodder. 

Should Malaysia's new growth model favor manufacturing or services?

Philip Schellekens's picture

As Malaysia redefines its growth strategy, the question of which sector to promote has been a subject of ongoing debate. Some have argued that the strategy should emphasize manufacturing – and preferably high-tech manufacturing – as innovation activity is most forthcoming in this sector. Others have countered that services are key, as the typical economic structure of an advanced economy is oriented towards services. Tradable services are also fast becoming an engine of growth.

Mongolia: Crisis increases demand for corporate governance

David Lawrence's picture

The President of Mongolia, Elbegdorj Tsakhia, sat at the table behind a Greek salad. We were at a lunch hosted by the Corporate Governance Development Center, an NGO which brings international best practices in corporate governance to Mongolia. Also present were the Minister of Education, the Director of the Financial Regulatory Commission (FRC), the Deputy Chief of Party of the USAID-funded Economic Policy Reform and Competitiveness Project (EPRC), which helped to establish the Center with the Institute of Finance and Economics, and CEOs of leading Mongolian firms. Several International Finanace Corporation (IFC) clients were among them.

The salad looked delicious, but it would have to wait. President Elbegdorj was speaking about the role of corporate governance in Mongolia. "Corporate governance is important for Mongolia's competitiveness," he said. I was delighted. I've been waiting a long time for this moment.

From Sumatra to Haiti, the importance of increasing government capacity in responding to disaster

Cut Dian's picture
In Indonesia, a national disaster management agency was set up in 2008 to serve as a guardian of disaster risk management. The agency's important role was clear in the aftermath of a West Sumatra earthquake in 2009.

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