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The World Bank's chief economist, Justin Yifu Lin . (Photo by Jason Smith)– Developing countries expected to grow 6% in 2011The world economy is moving from a post-crisis bounce-back phase of the recovery to slower but still solid growth this year and next, with developing countries contributing almost half of global growth, says the World Bank’s latest Global Economic Prospects 2011.The World Bank estimates that global gross domestic product (GDP), which expanded by 3.9% in 2010, will slow to 3.3% in 2011, before it reaches 3.6% in 2012. Developing countries are expected to grow 6% in 2011 and 6.1% in 2012. They will continue to outstrip growth in high-income countries, which is projected at 2.4% in 2011 and 2.7% in 2012.According to the World Bank, in most developing countries, GDP has regained levels that would have prevailed had there been no boom-bust cycle. While steady growth is projected through 2012,Air Max 90 Essential White And Black Mens, the recovery in several economies in emerging Europe and Central Asia and in some high-income countries, is tentative.“Without corrective domestic policies,Nike Air Max Shoes For Women, high household debt and unemployment, and weak housing and banking sectors are likely to mute the recovery.”“On the upside,Air Max 97 Undefeated Green, strong developing-country domestic demand growth is leading the world economy, yet persistent financial sector problems in some high-income countries are still a threat to growth and require urgent policy actions,” said Justin Yifu Lin, the World Bank’s chief economist and senior vice president for development economics.It was noted by the World Bank that net international equity and bond flows to developing countries rose sharply in 2010, rising by 42% and 30% respectively, with nine countries receiving the bulk of the increase in inflows. Foreign direct investment to developing countries rose a more modest 16% in 2010,Air Max 97 Silver Bullet For Sale, reaching $410 billion after falling 40% in 2009. An important part of the rebound is due to rising South-South investments, particularly originating in Asia.“The pickup in international capital flows reinforced the recovery in most developing countries,” said Hans Timmer, director of development prospects at the World Bank. However, heavy inflows to certain big middle-income economies may carry risks and threaten medium-term recovery, especially if currency values rise suddenly or if asset bubbles emerge.”Most low-income countries saw trade gains in 2010 and, overall, their GDP rose 5.3% in 2010.This was supported by a pick-up in commodity prices, and to a lesser extent in remittances and tourism. Their prospects are projected to strengthen even more, with growth of 6.5% in both 2011 and 2012,Cheap Air Max 90, respectively.According to the report, current relatively high food prices are having a mixed impact. In many economies, dollar depreciation, improved local conditions,Wholesale NHL Jerseys 2020, and rising prices for goods and services means that the real price of food has not risen as much as the U.S. dollar price of internationally traded food commodities.“However, double-digit price increases of key staples in the past few months are pressuring households in countries with an already-existing high burden of poverty and malnutrition. And, if global food prices rise further along with other key commodities, a repeat of the conditions in 2008 cannot be excluded,” cautioned Andrew Burns, manager of Global Macroeconomics in the World Bank’s Prospects Group.