Largest contributor to global growth

Despite concerns about the slowdown of the world’s second-largest economy, China remains the single largest contributor to global economic growth, aUS expert said on Monday. If China’s economy grows at 6.7 percent in 2016, in line with the government’s official target, it would account for 1.2 percentage points of global GDP growth this year, said Stephen Roach, a senior fellow at YaleUniversity and former chairman ofMorgan Stanley Asia. With the International Monetary Fund currently expecting the world economy to expand at only 3.1 percent this year, China would contribute nearly 39 percent of the overall global growth, dwarfing the contribution of other major economies, Roach wrote in an analysis on news site Project Syndicate. yuan is allowed to rise or fall by 2 percent from the central parity rate each trading day.