Posted on 03/04/2009 9:25:36 PM PST by traumer
Chinese Premier Wen Jiabao has said the coming year will be the most difficult the country has faced this century because of the global economic crisis.
Addressing parliament, Mr Wen reiterated that there would be a $585bn (£413bn) investment programme to stimulate the Chinese economy.
He also declared an annual growth target of 8% and goals to boost consumption and raise consumer demand.
His address opens the annual session of the National Peoples' Congress.
The premier said he hoped to create nine million new jobs in the cities and increase local government spending budgets by almost 25%.
"In China, a developing country with a population of 1.3 billion, maintaining a certain growth rate for the economy is essential for expanding employment for urban and rural residents, increasing people's incomes and ensuring social stability," he said.
(Excerpt) Read more at news.bbc.co.uk ...
btt
China’s “stimulus plan” appears actually to be intended to stimulate activity, is weighted toward real infrastructure growth as opposed to Obama’s cancerous political tumors. The market took China seriously, as shipping stocks rose significantly.
“...the most difficult the country has faced this century...”
Hey, it’s only 2009 after all.
Could be worse.
I think they’re accelerating the growth of their military as well...
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