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MNI BRIEF: China to Drive 1/3 of Global Growth in 2021: OECD

(MNI)

China will account for more than one-third of global economic growth in 2021, the OECD said in a new global forecast published Tuesday. Europe and North America will make less of a contribution to growth than their share in the world economy, the Paris-based research body said in its Outlook report. China's GDP will climb 8.0% in 2021, almost double the global pace of 4.2%. The U.S. will expand 3.2% and the euro area by 3.6%.

"Progress in rebalancing the economy has however slowed, and significant financial risks remain from shadow banking and elevated corporate sector debt," the OECD said of China's prospects.

MNI Ottawa Bureau | +1 613-314-9647 | greg.quinn@marketnews.com
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MNI Ottawa Bureau | +1 613-314-9647 | greg.quinn@marketnews.com
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