My comment: It means that if China is the engine of global growth, to keep it on track despite global crisis is contribution enough to the global economy.
China airs resolve to keep economy in good shape http://news.xinhuanet.com/english/2008-10/14/content_10195060.htm BEIJING, Oct. 14 (Xinhua) -- China on Tuesday reaffirmed its resolve to keep its economy on track amid the global financial turmoil. In a meeting with visiting U.S. Senator Chuck Hagel, Vice Premier Wang Qishan said the financial crisis, triggered by the U.S. credit crunch, had exerted a grave impact on the global financial market. "As a responsible country, China has always valued the communication and cooperation with other nations to ensure world financial and economic stability." Wang said China would make great efforts to keep its economy on the right track, which would be the country's greatest contribution to the world. China had implemented and would continue measures to ensure the stability of finance, economy and the capital market, he said, referring to a package of new policies to spur economic growth. The central bank cut interest rates on Sept. 15 for the first time in six years. The People's Bank of China, the central bank, announced the deposit and lending rates would be lowered by 0.27 percentage points and the reserve-requirement ratio would be reduced 0.5 percentage points starting Oct. 15. "With tools at our disposal, we are confident and capable of prevailing over the overall difficulties and challenges," Wang told Hagel. He added the overall bilateral relations of the two countries had moved forward and become increasingly interdependent since forging diplomatic ties in 1979. To promote China-U.S. ties was in the fundamental interests of the two nations, he said. Wang proposed the two deepen a strategic trust and take a candid and pragmatic approach in addressing differences. They should work more closely on economy, trade, investment, energy, environment and high-tech. He also urged the United States to observe the three joint communiques, refrain from anything harmful to bilateral ties and the stability of the Taiwan Straits, so as to ensure the sound and steady progress of bilateral constructive cooperation. As all nations were becoming more connected, Hagel, a Republican senator from Nebraska, said the stronger cooperation between the United States and China would help ensure world financial and economic stability. On Oct 14, 3:33 pm, "[EMAIL PROTECTED]" <[EMAIL PROTECTED]> wrote: > My comment: Thanks to the drop of commodity prices, price inflation > will be under control. Because of that, and because global slow down, > we can and have to focuss our effort on development. Not just on > growth but on a certain type of growth. I already posted about what > sort of consumption we can address (mostly services, rural > development, etc.). > > The main decissions of the CC of the CPC target it, to enhance > healthcare, to develop rural areas, education, environmental > opportunities, consumption. > > Lot of work ahead. > > China's Trade Surplus Widens to Record $29.3 > Billionhttp://www.bloomberg.com/apps/news?pid=newsarchive&sid=aX4Pl63eHKbA > > On Sep 15, 11:30 pm, "[EMAIL PROTECTED]" <[EMAIL PROTECTED]> > wrote: > > > > > As expected, > > > China's central bank reduces credit interest rate, reserve requirement > > ratiohttp://news.xinhuanet.com/english/2008-09/15/content_10011166.htm > > > It will allow banks to improve their profit and loss account, as 17.5% > > was extremely high. If price inflation goes down and down as expected, > > we should expect more cuts of rates. > > > Also, it will release the economy a little bit. But not much. Higher > > taxes will keep growth at a healthy 9%-10%. Higher would be too risky > > as commodities might rise and, therefore, price inflation could rise > > again if economy is too hot. > > > Peace and best wishes. > > > Xi > > > On Sep 10, 4:19 pm, "[EMAIL PROTECTED]" <[EMAIL PROTECTED]> wrote: > > > > My comment: After two years fighting against inflation, price > > > inflation are now under control but still high. The "unbelievable" > > > rate in August is 4.9%, in this way they can reach the initial goal > > > (4.8%) or any other goal. Much more realistic and healthy would be the > > > revised one 7.2%. In this way, they could ease finantial rules to curb > > > investments and growth. The lower fees of oil and other commodities > > > along next months will help to keep it under control while for example > > > they can ease reserve ratio of banks, increase liquidity, etc. > > > > As you can see US government is not the only one where official > > > inflation does not match real inflation. A more resonable rate and > > > what everybody predicted is between 6.5% and 7%, declining month after > > > month, but still high. When you distribute thousands of food, > > > umbrellas, and all sort of gimmies for free (price = 0) for the > > > Olympics the average price falls, but it does not mean that the real > > > price inflation falls so fast. > > > > PPI (produccion price index) is still high and it does not lie. > > > > Anyway, good news. > > > > China's CPI rises 4.9% in > > > Augusthttp://news.xinhuanet.com/english/2008-09/10/content_9892295.htm > > > > Peace and best wishes. > > > > Xi > > > > On Jul 17, 4:00 pm, "[EMAIL PROTECTED]" <[EMAIL PROTECTED]> wrote: > > > > > My comment: Here we can see how differnet price rise rates use to be > > > > accurarate to each other. We talked about CPI (around 7,2%) > > > > > China's PPI rises 7.6 percent in first half of > > > > 2008http://news.xinhuanet.com/english/2008-07/17/content_8560093.htm > > > > > China's GDP up 10.4 percent in first half > > > > year.http://news.xinhuanet.com/english/2008-07/17/content_8560003.htm > > > > > On Jul 10, 4:53 pm, "[EMAIL PROTECTED]" <[EMAIL PROTECTED]> wrote: > > > > > > My comment: Firtly, good to know that the goal 4.8% is forgotten > > > > > finally. This is a bit more realistic. > > > > > > Seems that authorities share the suspictions that I stated > > > > > yesterday.The expected declining of the CPI in June, also helps to > > > > > turn the economic policy. Now we should expect that they stop > > > > > tightening monetary policy and let grow the economy. But atention, > > > > > only in the economic areas where we are interested and help to move > > > > > toward the harmonious society, read the article related to aluminium > > > > > production cuts caused by coal production cuts. > > > > > > Report: China CPI to rise 7.2% in > > > > > 2008http://news.xinhuanet.com/english/2008-07/10/content_8523307.htm > > > > > > China's Aluminum Producers Agree to Cut Output by > > > > > 10%http://www.bloomberg.com/apps/news?pid=20601080&sid=a.Mw8ZSg_6c0&refe... > > > > > > On Jul 9, 3:59 pm, "[EMAIL PROTECTED]" <[EMAIL PROTECTED]> wrote: > > > > > > > My comment: I trust on Chinese authorities, they know what they do. > > > > > > Every change of model produces difficulties and harm to some people > > > > > > until they can adapt their life to the new model. The change from a > > > > > > hyper-developing economy to the harmonious society will produce some > > > > > > harm to some people. I hope that authorities do things as slow and > > > > > > step by step as required, I trust on them, but still a bit afraid, > > > > > > it > > > > > > is so difficult. > > > > > > > China Exports May Slow, Fueling Calls to Limit > > > > > > Yuanhttp://www.bloomberg.com/apps/news?pid=20601087&sid=axlaZ362BdZQ&refe... > > > > > > > July 9 (Bloomberg) -- China's export growth probably slowed last > > > > > > month, giving more ammunition to manufacturers calling for the > > > > > > government to slow the pace of the yuan's gains. > > > > > > > Overseas shipments climbed 22 percent from a year earlier after > > > > > > gaining 28.1 percent in May, according to the median estimate of 23 > > > > > > economists surveyed by Bloomberg News. The data may be released as > > > > > > early as today. > > > > > > > Rising raw-material, energy and labor costs and a 6.6 percent gain > > > > > > in > > > > > > the yuan versus the dollar this year have squeezed profits, just as > > > > > > the outlook for demand abroad weakens, exporters say. More than > > > > > > 2,000 > > > > > > shoemakers closed in Guangdong province, the world's largest > > > > > > footwear > > > > > > production center, in the five months through May, according to the > > > > > > customs bureau. > > > > > > > ``Slowing exports will cool economic growth and hit some exporters > > > > > > hard, so the political pressure on the government to stop the yuan's > > > > > > appreciation will increase,'' said Stephen Green, the Shanghai-based > > > > > > head of China research for Standard Chartered Bank Plc. > > > > > > > Any effort to restrain the yuan may provoke China's biggest trading > > > > > > partners. The nation was a target of criticism on trade imbalances > > > > > > from the Group of Eight leaders, meeting in Japan this week. > > > > > > > In language that French President Nicolas Sarkozy said was aimed at > > > > > > China, the G-8 called for a ``necessary adjustment'' in exchange > > > > > > rates > > > > > > ``in some emerging economies with large and growing current-account > > > > > > surpluses.'' > > > > > > > Smaller Surplus > > > > > > > China's trade surplus likely narrowed to $22.7 billion from $26.89 > > > > > > billion a year earlier as rising prices for oil, coal and iron ore > > > > > > boosted import costs. Imports probably climbed 36.2 percent, easing > > > > > > from a 40 percent gain in May. > > > > > > > Almost a third of 70,000 Hong Kong-invested factories in China's > > > > > > Pearl > > > > > > River Delta may close or move out this year as higher costs and cuts > > > > > > to export incentives bite, according to Danny Lau, chairman of the > > > > > > Hong Kong Small and Medium Enterprises Association. > > > > > > > ``Conditions are extremely difficult,'' Lau said yesterday. ``The > > > > > > renminbi's appreciation is the major factor,'' he said, using > > > > > > another > > > > > > name for China's currency. > > > > > > > Growth in overseas shipments eased to 22.9 percent in the first five > > > > > > months, from 25.7 percent in all of last year, as demand in the > > > > > > U.S., > > > > > > China's second-largest export market, weakened. May's surge in > > > > > > exports > > > > > > may have been because a shortened holiday added three working days > > > > > > to > > > > > > the month compared with a year earlier. > > > > > > > Touring Exporters > > > > > > > Premier Wen Jiabao and Vice Premier Wang Qishan last week visited > > > > > > exporters in Jiangsu, Shanghai and Shandong, listening to their > > > > > > concerns and urging them to become more competitive, the state-run > > > > > > Xinhua News Agency said. > > > > > > > China aims to use currency appreciation to purge exporters who add > > > > > > little value to the economy, Andy Rothman, a Shanghai- based China > > > > > > strategist at CLSA Ltd., said in a report in May. Standard > > > > > > Chartered's > > > > > > Green said yesterday that while exporters highlighted yuan > > > > > > appreciation, weaker overseas demand was the key reason for slower > > > > > > export gains. > > > > > > > This year's appreciation in the yuan has been faster than the 7 > > > > > > percent pace in 2007, cutting import costs and helping government > > > > > > efforts to tame inflation that jumped to a 12-year high of 8.7 > > > > > > percent > > > > > > in February. > > > > > > > The yuan has climbed 20.7 percent versus the dollar since a fixed > > > > > > exchange rate was scrapped in July 2005. > > > > > > > On Jun 27, 4:29 pm, "[EMAIL PROTECTED]" <[EMAIL PROTECTED]> wrote: > > > > > > > > China's Zhou Examines `Stronger' Inflation > > > > > > > Policieshttp://www.bloomberg.com/apps/news?pid=20601068&sid=aHrIAay6PUO0&refe... > > > > > > > > June 20 (Bloomberg) -- China's central bank Governor Zhou > > > > > > > Xiaochuan > > > > > > > said his bank may formulate ``stronger policies'' to tackle > > > > > > > inflation > > > > > > > exacerbated by the government's latest fuel- price increases. > > > > > > > > ``Surely higher energy prices will send some pressure to the > > > > > > > consumer > > > > > > > price index, so we may have stronger policies against inflation,'' > > > > > > > Zhou told reporters in New York today before a meeting with U.S. > > > > > > > business groups. Zhou didn't elaborate. > > > > > > > > The world's second-biggest oil consumer after the U.S. yesterday > > > > > > > unexpectedly raised gasoline and diesel prices by at least 17 > > > > > > > percent > > > > > > > from today, and increased power tariffs to rein in energy > > > > > > > consumption. > > > > > > > Crude oil prices are 91 > > ... > > read more » --~--~---------~--~----~------------~-------~--~----~ You received this message because you are subscribed to the Google Groups "World-thread" group. To post to this group, send email to [email protected] To unsubscribe from this group, send email to [EMAIL PROTECTED] For more options, visit this group at http://groups.google.com/group/world-thread?hl=en -~----------~----~----~----~------~----~------~--~---
