FED:RBA Chief says we benefit from China's rise

AAP General News (Australia)
04-15-2011
FED:RBA Chief says we benefit from China's rise

Reserve Bank governor GLENN STEVENS says Australia's economy is benefiting from China's
rapid rise.

Mr STEVENS says China has raised its share of global gross domestic product from less
than four per cent in 1990 to over 13 per cent last year .. while the US share has shrunk
to about 20 per cent from 25 per cent in the same period.

Mr STEVENS made his comment before the American Australian Association in New York
.. in town for the G20 finance ministers' meeting.

He's also warned that concentrating too much on US-China bilateralism is unhelpful
when it comes to solving the world's economic problems .. saying with global economies
changing rapidly .. it's becoming increasingly important to take a multilateral approach
when dealing with the economy.

AAP RTV cb/pjo/wz/nap

KEYWORD: ECONOMY (CANBERRA)

� 2011 AAP Information Services Pty Limited (AAP) or its Licensors.