Zoellick stresses China's economic role

BEIJING, Dec. 17 (UPI) -- World Bank President Robert Zoellick says China, as a growth engine, can help ward off a global slowdown or even a recession, it was reported Tuesday.

Zoellick, who is visiting China, told China Daily the country also faces the challenges of an international slowdown resulting from the subprime mortgage crises in both the United States and Europe.

Using his earlier characterization of China as a responsible stakeholder in the global economy, he said, "China and the world economy are related. Coming back to the 'stakeholder' concept, we need to adjust our approach to the new challenges."

The World Bank had said earlier the international financial market turmoil may affect China's economy, but it is strong enough to absorb the impact.

The bank has forecast China's economy will grow 11.3 percent this year and slightly below 11 percent next year.

However, Zoellick thinks the U.S. economy will slow down and a recession may emerge, the report said.

Zoellick met Monday with Wen Jiabao" class="tpstyle">Chinese Premier Wen Jiabao, who said his country will continue to support the World Bank in helping developing countries, Xinhua reported.