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Crisis 'has hit China's economy'

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posted on Jan, 29 2009 @ 02:15 AM
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Crisis 'has hit China's economy'


news.bbc.co.uk

The global financial crisis has had "a rather big impact" on China's economy, the country's Premier Wen Jiabao said in a major World Economic Forum speech.

Speaking in Davos in Switzerland, he said the crisis had placed the world economy in the most difficult situation since the Great Depression.

In China, he said, there was rising unemployment in rural areas and "downward pressure on economic growth".

But he added that China's economy was in good shape "on the whole".


(visit the link for the full news article)




posted on Jan, 29 2009 @ 02:15 AM
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"We are targeting a growth rate of about 8% in 2009. It will be a tall order, but I hold the conviction that through hard work, we can reach the goal." As the demand for China's exports shrinks, he said that as part of relaunching the economy, the country had to focus now on expanding domestic consumer demand.

news.bbc.co.uk
(visit the link for the full news article)

I will really like to see them make 9% heck even 7 or 8 bet you 10 bucks they wont be able to.


[edit on 29-1-2009 by SLAYER69]



posted on Jan, 29 2009 @ 02:24 AM
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reply to post by SLAYER69
 





"Will China's economy continue to grow fast and steady? Some people may have doubts about it, yet I can give you a definite answer," he said. "Yes, it will, we are full of confidence." He said China would "take prompt, forceful and effective measures" to ensure the health of its economy.


I hope he is right but they sound like famous last words to me.



posted on Jan, 29 2009 @ 03:03 AM
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Well as unfashionable as this may be to say.. I'm kinda glad China is having their economic problems along with Russia and that it's not just the west taking a shot in the arm.

No matter what figures China gives for 2009, you can be sure they cooked the books. My worry is for the workers over there and what lengths the government will go to to exploit them to keep the economy in check.

IRM



posted on Jan, 29 2009 @ 10:08 AM
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reply to post by InfaRedMan
 


Well it seems like they are all wanting a scapegoat and we are walking right into it. It's if they had nothing to do with it. I'll be surprised if we see any real change come of this.



posted on Jan, 30 2009 @ 12:02 PM
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Originally posted by InfaRedMan
Well as unfashionable as this may be to say.. I'm kinda glad China is having their economic problems along with Russia and that it's not just the west taking a shot in the arm.

No matter what figures China gives for 2009, you can be sure they cooked the books. My worry is for the workers over there and what lengths the government will go to to exploit them to keep the economy in check.

IRM


I hear you but now they are considering buying gold instead of backing US T bills stay tuned this can get ugly.



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