Introduction Thank you very much for inviting me to speak at this conference of the European Business Summit. The theme of my address today is “Adjustment and Growth in the Euro Area”. This is a title that, to some, may sound contradictory.
More noteworthy of late, however, is the prominence given to the growing role of China in the world economy. China is making a tangible difference to global economic output - and was a key reason, for example, why global output did not slow as much as the output of the advanced country group in 2001 and 2002.