Now, examples:
1. China is on track for a fourth consecutive decade of rapid growth and will overtake the US as the world's biggest economy in 2016 after accounting for price differences, according to a new report by the OECD.
Having slouched to 7.8 per cent growth last year, its slowest in more than a decade, China's economy will rebound to 8.5 per cent growth this year and 8.9 per cent next, the OECD said.
It forecast that China would average 8 per cent growth in per capita terms during the current decade, provided Beijing can implement a series of economic, financial and regulatory reforms, many of which are already in train.
“There is significant scope for further catch-up in China; China has a strong record with respect to several of the key factors for sustaining growth and is well positioned to emulate the record of earlier stellar Asian performers,” the OECD said in its survey of the world’s second-biggest economy.
The OECD noted that growth would gradually ebb as China catches up to more advanced economies, but its forecast is well ahead of Beijing’s official target of 7 per cent average growth in the five years to the end of 2017.
- OECD: China forecast to overtake U.S. by 2016, FT.com, March 23, 2013.
2. The Government should welcome more refugees and migrants than the 600 people the State agreed to accept through the EU relocation programme, according to Minister for Public Expenditure Brendan Howlin.
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