Posted on 10/06/2008 8:10:50 PM PDT by maccaca
China's economy is strong enough to withstand the impact of the global financial crisis and may even help the world by maintaining fast growth, Premier Wen Jiabao was quoted as saying Sunday. "Our economic fundamentals haven't changed, and the economy is moving in the direction we expected," Wen was quoted as saying by the state-controlled Xinhua news agency. "The strength of our financial institutions has generally increased, and their ability to make money and withstand risk has risen. Market liquidity is ample and the financial system is stable and safe," he said. "This will help us withstand any negative external impact. We're full of confidence in the development of the economy, and in the stability of the financial system." Wen, who made the remarks during an inspection tour to south China's Guangxi Zhuang region, said the best way his nation could help would be by ensuring fast economic growth at home.
(Excerpt) Read more at afp.google.com ...
You eat your meramine and shut up!
What do you expect him to say? Please don’t buy US Dollars and put your money in T-Bills?
Although they own a lot of our debt, they are bigger basket case then just about anybody. China folds when Walmart stops buying from them.
the chinese save 30% of their incomes.
If Europe and the US are in the proverbial cr-pper, who’s gonna buy their substandard, poisonous cr-p?
Go eat your meramine and shut up! Oua stuff are cheap and you WILL eat it....speciary if we cut plice!
We can sell Super Turbo Vegiepeeler anywhere in world. We don’t need Walmart shopper. We copy SUV, microchip, everything. We assemble everything. We copy everything. Soon we have oil supply, soon we have Middle Kingdom. We are grateful when one child not die. We are grateful to eat bitterness. We are billions. And soon we own you. So stupid. Buy Malibu Barbie by millions.
China and Russia can take economic hits as they are military dictatorships. They will just go back to huffing and puffing, and military buildups.
No they can’t. China has not gone through a recession/depression since they became “capitalistic.” Their market is down by 2/3 this year alone. They have 10’s of thousands of riots per year. Things will get very ugly there very fast.
China, yes. Russia, no.
Russia’s economy is on the brink of collapse the past few months.
LOL!!! This is because the credit crunch has not yet kept Americans from buying toys and other cheap crap.
Yeah, his big talk speaks volumes on his and his country's concerns.
Ahh...the joys of free trade w Communist China.
I am loving watch these pretentious America haters see their financial houses collapse while we remain diversified and strong.
They want to push us all to a race to the bottom?
I have some good ideas who will get their first— and it won’t be us.
“China can withstand financial crisis: Wen(China to come out victorious from the global meltdown??)”
until the exports to American consumers drops drastically
60% of China manufacturing is for exports and 60% of that is for western manufactures exports to the west
domestic consumption in China, while healthier than before, cannot make that up without an economic contraction
Yeah, cause the U.S. tax payers bailout partly went to cover the U.S. mortgage backed instruments they owned. That is why our government was pushing congress to pass the bailout bill ASAP.
It was just as I thought all along. A large part of the money went to save the U.S. (and many foreign banks) from allowing the money instruments our greedy financial players had foisted off on persons and entities other than U.S. citizens!
This is a blatant bloody lie so typical of the Chicom leadership. I’ll give you an indicator. Its Golden Week in China (Oct 01-07). Normally the mainlanders flood Hong Kong duri this period and if you were to find yourself in Causeway bay or TsimShaTsui in HK, you would hear more Mandarin than Cantonese. This year, its clearly not the case. The shopping malls are near empty compared to previous Chinese holidays. Even May was beter than October has been so far. Mainlander spending in HK has come down by 66% according to an article in the Standard.
Here’s the link http://www.thestandard.com.hk/news_detail.asp?pp_cat=30&art_id=72491&sid=20873060&con_type=3
Correction: Mainlander spending in HK has come down to 70% according to an article in the Standard
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