Only India and China show growth

Updated on: 02 June,2009 04:39 PM IST |
PTI |

Only India and China show growth

Amid the global financial crisis, only two countries India and China will see a positive growth, a Chinese expert has forecast.

Speaking at a Moscow-Beijing televised conference on 'Stabilising role of the BRIC countries in the situation of economic stability,' Feng Shen, Director, Research Centre of World Economy at Chinese Institute of Contemporary International Relations said only two countries will show the economic growth this year- India and China.

She also called upon the BRIC countries including India, Russia, China and Brazil to play a stabilising role in overcoming the current financial crisis. "The BRIC countries must play the stabilising role in overcoming the crisis. The crisis gives these counties vast opportunities, as they may emerge from the crisis as leaders for economic growth," Chen said.

According to her the world economy has hit the bottom and stabilisation period has set in and probably by the second half of 2009 the world economy will stabilise in and growth will begin in 2010.

"In order to prevent such crisis in future the BRIC countries should restructure their economy, change the model of economic growth, depart from over-reliance on export and reorient themselves to the domestic market," she said in a Moscow-Beijing televised conference on 'Stabilising role of the BRIC countries in the situation of economic stability.'