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China's economic growth 'hard to predict'

The worsening global economic situation makes it difficult for China to predict its growth for next year, a senior official said on Friday.

“How fast China’s economy will grow next year is uncertain,” Liu He, deputy director of the Office of the Central Leading Group on Finance and Economy Work, told China Daily.

“To a large extent, the rate will be decided by the external(外部的)situation,” Liu said during a discussion with Swedish Prime Minister Fredrik Reinfeldt and other economists in Beijing.

This year, GDP is estimated to grow at 9.4 or 9.5 percent, down from 10.6 percent last year, he said. However, the impact of the current financial turbulence “on our economy is much less than on the rest of the world”, he said.

Nicholas Stern, a former UK government advisor, also told China Daily it will take at least one or two years for the world to recover from the recession, which is now spreading from the US and the UK to the rest of the world.

“We don’t know how long the recession will last, but it is unlikely to be short,” he said.

Liu said China can use the downturn(衰退)as an opportunity to restructure its economy, which has relied heavily on government investment, foreign trade and low-cost technology over the past years.

“When the economy is experiencing fast growth, companies are unwilling to upgrade their technologies,” Liu said.

“The slowdown gives such firms the opportunity to enhance(提高)their competitive edge through better technologies.”

From China Daily

2008-10-25

1.How many people are mentioned in this passage?

A. only 2     B. no more than 3     C. not more than 4     D. at least 5

2.It can be inferred from Liu’s words that the impact of the current financial turbulence on China’s economy is ________ in the world.

A. more       B. less              C. the most           D. the least

3.The underlined word “extent” probably means ________.

A. sense       B. degree           C. size               D. depth

4.According to the passage, the reason why Liu said this downturn is an opportunity for China to restructure its economy is that ________.

A. China’s economy will not depend on government investment in the future

B. Foreign trade will grow in the future

C. The downturn will force China’s companies to upgrade their technologies

D. Low-cost technologies will not exist in China

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