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WORLD BANK CALLS ON EMERGING ECONOMIES TO EXPAND POLICIES.
SEOUL, Nov. 3 Asia Pulse - Emerging countries should push for expansionary monetary policies to shield their economies from the ongoing global financial turmoil amid falling inflationary pressure, a high-ranking official at the World Bank said in a recent forum.
During the forum held by the state-run Korea Development Institute in Seoul on Friday, Justin Yifu Lin, the World Bank's senior vice president, said that emerging countries, including South Korea, might face rapidly plunging exports, a decrease in investments and a possible economic crisis in the wake of the U.S.-sparked financial instability.
Lin is the founder and director of the China Center for Economic Research and former professor of economics at Peking University.
He took the World Bank position on June 2, 2008.
The forum was held amid increasing concern that the current financial turbulence, which took a nastier turn after the collapse ...
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Source: HighBeam Research, WORLD BANK CALLS ON EMERGING ECONOMIES TO EXPAND POLICIES.