WASHINGTON, April 5 (UPI) -- China needs to tackle its environmental problem if it is to continue growing economically, the World Bank cautioned Thursday.
In its semi-annual report on East Asia, the bank said that while more than 90 percent of those in the region will be in the middle-income category by 2010, the pace of growth could slow down or even stop altogether unless countries can strike a balance between economic expansion and sustainable growth.
"In China, this means new strategies to tackle severe environmental problems and other stresses and imbalances that have emerged during the last 20 years of very rapid growth," the bank stated.
The bank's lead economist for the region, Milan Brahmbhatt, added that "historically, few countries have mastered the complex technical, social and political challenges that arise."
The agency also pointed out the need to combine growth with equity, in addition to taking steps to prevent financial crises from occurring again in the future.
