ECB's Bini Smaghi on the world economy

In introductory remarks at Internationaler Club Frankfurter Wirtschaftsjournalisten given on 14 March Lorenzo Bini Smaghi of the ECB said Asia not only makes a strong contribution to world economic growth but also plays a "shock-absorbing" role in the context of existing global imbalance.

"One could certainly entertain the hypothesis that, for the continued sustained growth of the world economy, a slowdown of Asian economies would be as worrisome, if not more, than that of the US," he added.

He

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