WB chief says world economy in danger zone

The head of the World Bank, Robert Zoellick, is urging European countries, Japan and the United States to take action and avoid dragging down the global economy.

According to Xinhuanet, Robert Zoellick, said on Wednesday the world had entered a new economic danger zone. He said European nations, Japan and the United States all need to make hard decisions to avoid dragging down the global economy.

Zoellick said, "Europe, Japan, and the United States must be responsible stakeholders, too. They have procrastinated for too long on taking the difficult decisions, narrowing what choices are now left to a painful few."

Zoellick said European countries were resisting difficult truths about their common responsibilities, Japan had held off on much-needed economic and social reforms, and political differences in the U.S. were overshadowing efforts to cut record budget deficits.

He added that as those very countries had called on China to be a responsible global stakeholder as a rising economic power, so should they act responsibly to get a handle on their own economic problems.

Details at http://news.xinhuanet.com/english2010/business/2011-09/16/c_131141442.htm