ADB chief al­lays fears over spike in de­fla­tion

China Daily (Canada) - - SHANGHAI -

The head of the Asian De­vel­op­ment Bank has dis­missed fears that China may ex­port de­fla­tion to Asian neigh­bors by flood­ing goods made cheaper by a weak cur­rency. ADB Pres­i­dent Take­hiko Nakao also said that while China’s econ­o­my­may no longer be ex­pand­ing at 10-per­cent pace, it will con­tinue to grow steadily as it shifts to­ward be­ing a con­sump­tion-led model driven by a deeper ser­vice sec­tor.

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