Tag: china
2010 economy ‘looking good’
by Mr. Wiseman on Dec.18, 2009, under Opinions
The Chinese economy will grow by more than 8 percent in 2010, despite lingering uncertainties in the global market, a leading Chinese economist predicted.
Fan Gang, director of the China National Economic Research Institute and a member of the money policy committee of the People’s Bank of China, is confident that the country can meet its GDP growth target of 8 percent this year and will keep the momentum of the economic recovery next year.
He attributed the strong economic growth to the government stimulus package, rising investment in property and industrial sectors as well as a growing trade surplus.
China’s 4-trillion-yuan ($585 billion) stimulus package, mainly on domestic investment and consumption, is shoring up the economy, with manufacturing showing more signs of recovery, according to the State Council, or Chinese cabinet .
“Investment in real estate so far this year has almost fallen to its lowest level for years,” Fan said, “yet money has started to flow into this sector and will increase quickly next year, making it a significant source of GDP growth.” (continue reading…)
Fundamental driving forces of the financial crisis
by Mr. Wiseman on Dec.15, 2009, under Opinions
It is superfluous to note on this blog that the world economy is passing through the most severe financial crisis since 1929.[1] Its results are also beginning to be well understood: the era of increasing deregulation has ended and instead increased, in the US very large scale, state intervention in the economy has begun.[2]
But what type of crisis is this – which greatly affects what its eventual outcome will be? (continue reading…)
