* * * Chairman Crapo, Ranking Member Brown, and other members of the Committee, thank you for expeditiously scheduling this hearing and providing me the opportunity to appear before you today.
Its GDP at market exchange rates is about 15 percent higher than that of North America and 60 percent more than the euro area. China and East Asia are the main growth poles in the global economy and emerging and developing countries accounted for 80 percent of global growth last year.