China, facing slowdown (down to 7-8% per year), mulls stimulus options

Government adviser says country should still achieve 8 per cent growth this year despite troubles, rules out major stimulus measure

China is bracing for a decade of slower 7-8 per cent growth by taking forward a difficult transition process from “growth” to “efficiency” for its slowing economy, a senior government economic adviser said on Thursday even as he expressed confidence that the country would grow by 8 per cent in 2012.

China was putting in a range of stimulus measures this year, including spurring investments in infrastructure projects such as its high-speed rail network, to combat the slowdown in exports and its real estate sector, said Yu Bin, the Director General of the Department of Macroeconomic Research of the Development Research Center of the State Council, or Cabinet.

“China’s projected growth for the year will still reach 8 per cent,” he said, exceeding the government’s 7.5 per cent target.

U.S. historically this century had only 3% growth. Those were the good times, when America was America.Now growth is nonexistent in the U.S..And the media makes it seem like 7% China growth is bad. 20 years ago,99% of China people were peasants living as they did 1000 years ago. Now China has a a huge middle class, malls, and make all the high tech products. It's simple they make things , manufacturing. We can't survive if other countries make everything we use. it's easy to bring back U.S. manufacturing , just put numerical limits on imports from China and other countries and let China go to hell. We have to make things in the U.S.A again. morons here argue against me.

I want to hear the Globalists spin this one...

We need to go back to the traditional conservative Republican way of business: No Free Trade (tariffs), emphasis on domestic production, trade only for benefit of US, US companies.

This was the way the GOP did it before all the NeoCons came over from the Democrats and started imposing their UN, IMF, World Bank, Soros-funded nonsense.

I still cannot understand, after the tanking of the US economy, the failure of the EU, and the overall world recession/depression...that people are pushing the same failed Free Trade Globalism....siding with Obama on the issue

just put numerical limits on imports from China and other countries Bad idea. Protectionism was tried in 1930 with the Smoot–Hawley Tariff Act. It decreased trade by 60% and collapsed the global economy.

Wrong

Smoot-Hawley did not cause the Great Depression. By the time Smoot was passed, our major trading partners (Europe) were already imposing tariffs on foreign goods..and were looking to dump products on an unprotected US market.

Europe had already placed tariffs and barriers on South American agri products by the mid 1920’s...crashing the economies of South America

And, Europe’s economy was a total mess by 1930. They could not buy American products even if they did not have tariffs. The only two nations that had anything of trade value were Nazi Germany (mid 1930’s) and the USSR. We did not recognize the USSR until 1933..so no trade with them anyway

The Smoot-Hawley myth is pushed by the same Soros NeoCons who cannot accept the fact that Free Trade is a failure. Look at the EU

And, Smoot-Hawley was authored, sponsored, and passed by the GOP....who at the time believed in a strong American economy. Of course, to believe Smoot-Hawley caused the Great Depression....you would be in agreement with FDR and his fellow Democrats

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