Sunday, November 20, 2011

China gets it?

A long-term global recession is certain to happen and China must focus on domestic problems, Chinese Vice Premier Wang Qishan has said.
"The one thing that we can be certain of, among all the uncertainties, is that the global economic recession caused by the international financial crisis will be chronic," Wang was quoted by the official Xinhua news agency as saying at the weekend.
Read the rest at Reuters
China vice premier sees chronic global recession

1 comment:

Ryan Harris said...

The pessimism everywhere is toxic in itself. The real tangible economy has everything going in its favor right now, capacity, employees, low prices, banks with capital, improving trade policy, exciting new technologies, just everything in place -- except government fiscal policy and dysfunctional capital markets. -- But with people protesting on the streets and elections, politicians might actually do something. If they could just get one thing right the whole thing could take off. We are so overdue for a big bang in growth from population growth alone if nothing else... All we need is congress to focus on demand. Hopefully the window of opportunity doesn't pass before Merkel nukes Europe.