World Bank's Zoellick Cautious On Global Outlook.

World News - "There is still a high degree of uncertainty regarding the outlook for the global economy... World Bank President Robert Zoellick said on Tuesday. Speaking at the start of a two-day International Finance Corporation (IFC) conference on global private equity, Zoellick said views on the world economy's health ranged from cautious optimism that the pace of decline was slowing to lingering concerns over low capacity utilization...." [Reuters/Factiva]

Dow Jones adds that "...still, Zoellick noted 'sighs of relief' among global leaders he has met with recently about signs that the global crisis may be easing. In particular, China's economy may 'surprise to the upside,' he said. Risks to the world economy include the need to fix financial sectors, Eastern and Central Europe, protectionism, tighter financing for the private sector, and unforeseen events like the swine flu, [Zoellick added]...." [Dow Jones/Factiva]

The Chosun Ilbo writes that Zoellick said "... 'China acted quite quickly and aggressively to stimulate demand, and has had some pretty good first quarter numbers.' [He added that] when you examine the numbers closely, the good news from China results mainly from government spending, and it remains to be seen when the country's private sector will boost its investments again...." [The Chosun Ilbo (South Korea)]