The euro will become an important international currency. The international economic and financial situation is worrying. What started as the Asian crisis, has spread to Russia and threatens Latin America. At least a third of the world economy is now in recession. International trade growth is slowing.
Many uncertainties still surround the global outlook.
The arrival of the euro should ensure new opportunities in EU markets for Chinese exporters and investors. China and Europe are two main areas of growth and monetary stability. The UE economic situation remains positive despite a sombre international environment. In 1998, EU growth is now expected to be 2. Both figures are revised downwards by 0.