The People’s Bank of China (equivalent to our Federal Reserve Bank) doesn’t make statements without careful thought and planning.
“The impact of the international financial crisis is intensifying, and the uncertainty of the domestic economy is increasing. The risk of an economic slowdown is expanding.”
“With the slowdown of the world economy and rising unemployment, anti-globalization, represented by trade protectionism, is likely to exist for a long time. It will cause a negative impact on the sustainable, healthy development of the world economy.”
If the PBC says things are bad….I am sorry to say that you should believe them.
Related Posts
- Hu Jintao paints ugly Chinese economic picture (12/01/08)
- Bank of Nova Scotia buys stake in Chinese bank (12/30/09)
- China’s big picture (07/18/08)
- China to move 330,000 people for irrigation project (10/19/09)
- World Bank pledges $510 million to China (10/26/08)
