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Thursday, June 4, 2009 - 19:30

China and the Global Economic Crisis

David Dollar, Ph.D.

Country Director for China and Mongolia, World Bank

Embassy of Iraq


Yilake Dashiguan 25 Xiu Shui Bei Jie

The global economic crisis is the most serious since World War II. It has had a sharp effect on China through the decline in the country's exports. The government estimates that more than 20 million workers have lost their jobs. The government responded to the crisis with large stimulus through easier monetary policy and a big increase in public spending, especially on infrastructure. How effective has been the government response? What are the prospects for the economy in 2009 and beyond? What policies are needed to sustain China's growth? How has China's role in the world and in global institutions changed as a result of the crisis?

Based in Beijing, David Dollar has been World Bank Country Director for China and Mongolia since July 2004. He speaks and writes frequently on economic, environmental and social issues in China. Prior to moving to China, Dollar spent eight years in the research department of the World Bank. He has published a wide range of studies on globalization, trade and growth, investment climate, and growth and poverty. Dollar was the World Bank country economist for Vietnam during 1989-1995, a period of intense reform and structural adjustment. He has a Ph.D. in economics from NYU (1984) and a B.A. in Chinese language and history from Dartmouth College (1975).