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WEF official predicts spotty economic picture for Japan and Europe
An official forecast by the World Economic Forum predicts that Japan and Europe will be the worst economic performers of the industrialized world this year.
However, the W-E-F forecast says the United States will see a gradual recovery.
Claude Smadja, an economist and senior adviser to the Geneva-based W-E-F, was addressing world leaders at the Partnership Summit in the southern Indian city of Bangalore.
He said Japan's recession may last through the year and deflation, a steady decline in prices, hasn't yet run its course.
Mr Smadja, a former managing director of the W-E-F, also said he expects China to become an even more aggressive exporter and that the East Asian economies should recover robustly.
10/01/02 11:25:17 | ABC Radio Australia News
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