"For China, because of an epidemic coronaThe economy has shrunk considerably, I don’t mean that in a negative sense but by Chinese standards, growth has been low. And now that the closures are over and the restrictions related to Corona are lifted, we see that there is potential upwards, but growth is still less than the Chinese long-term growth rate." as he put it.
Regarding Euro-zoneHe explained that the growth rates will be constant there, while the growth rate will reach 0.5 percent in the United States.
Speaking of rates inflation high, he said "We have lived through a period of about 40 years in which the rate of inflation was relatively low, and suddenly inflation rose due to various factors, and rather quickly, at the end of 2021 and the beginning of 2022, and this required intervention from central banks.".
He explained that the decisions of central banks around the world to curb inflation were difficult but necessary, as they work to manage and reduce inflation, and at the same time secure "Smooth landing" to avoid stagnation.
On climate change, World Bank Operations Director Axel Van stressed the importance of this file, and ignoring it could lead to another 130 million people falling into poverty.
He said "The mission of the World Bank has not changed, neither today nor yesterday. It is a very clear mission concerned with reducing poverty and securing common prosperity in addition to achieving these two goals in a sustainable manner. These goals have not changed and we focus today more than ever on the issue of poverty, and we have stressed our concern, as Although we are seeing positive trends for extreme poverty as it has been declining over the past two decades, with COVID-19, we have seen the trend reversed and this is what worries us deeply and that the target of reducing extreme poverty to 3 percent by 2030 will not be achieved." .
He also called for solidarity with developing countries, especially with the poorest countries, to combat poverty in parallel with combating other global challenges, and these challenges lie, at the present time, particularly in the climate.
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And he sees, on the sidelines of the forum Davos 2023, that there are three main poles of growth in the world, namely the United States andEuro-zone and China.
For China, because of an epidemic coronaThe economy has shrunk considerably, I don’t mean that in a negative sense but by Chinese standards, growth has been low. Now, after the end of the closures and the lifting of the restrictions related to Corona, we see that there is an upward potential, but the growth is still less than the Chinese long-term growth rate,” he said.
Regarding Euro-zoneHe explained that the growth rates will be constant there, while the growth rate will reach 0.5 percent in the United States.
Speaking of rates inflation He said, “We lived a period of about 40 years in which the inflation rate was relatively low, and suddenly inflation rose due to various factors, and rather quickly, at the end of 2021 and the beginning of 2022, and this required intervention from central banks.”
He explained that the decisions of central banks around the world to curb inflation were difficult but necessary, as they work to manage and reduce inflation, and at the same time secure a “soft landing” to avoid recession.
On climate change, World Bank Operations Director Axel Van stressed the importance of this file, and ignoring it could lead to another 130 million people falling into poverty.
He said, “The mission of the World Bank has not changed, neither today nor yesterday. It is a very clear mission concerned with reducing poverty and securing common prosperity in addition to achieving these two goals in a sustainable manner. These goals have not changed and we focus today more than ever on the issue of poverty, and we have stressed on Our concern is that although we are witnessing positive trends in extreme poverty as it has been declining over the past two decades, with Covid-19, we have witnessed a reversal of this trend, which is of great concern to us, and that the goal of reducing extreme poverty to 3 percent by 2030 will not be achieved.
He also called for solidarity with developing countries, especially with the poorest countries, to combat poverty in parallel with combating other global challenges, and these challenges lie, at the present time, particularly in the climate.
