Subscribe free to our newsletters via your
. GPS News .




POLITICAL ECONOMY
China's Wen warns of economic hardship ahead
by Staff Writers
Beijing (AFP) July 15, 2012


Chinese Premier Wen Jiabao warned Sunday that his nation's economic rebound was not stable and the world's second largest economy faced hardships ahead, state media reported.

During an inspection tour of southwest China's Sichuan province, Wen called for greater efforts to strengthen the vitality and dynamism of economic growth, Xinhua news agency said.

"The economic growth rate is still within the government target range set early this year, and stabilisation policies are working," Xinhua quoted Wen as saying.

China's "economic rebound is not yet stable and economic hardship may continue for a period of time," he said.

China's economy expanded during the second quarter at its slowest pace in more than three years as dire problems overseas started to hit home, according to official data released on Friday.

The world's second-largest economy grew 7.6 percent in the second quarter year-on-year, the National Bureau of Statistics said, the weakest since 6.6 percent during the depths of the global financial crisis at the start of 2009.

The weak second-quarter expansion dragged down growth to 7.8 percent for the first half of the year, a period when the debt crisis in Europe has deepened and the US economy has continued to struggle.

The government earlier this month took the rare step of slashing interest rates for the second time in a month. That came after three cuts since December in banks' reserve requirements, or the amount of money they must keep on hand.

Such cuts are meant to free up funds for lending and thus boost the economy.

Chinese leaders have vowed to take further measures. Wen last week called stabilising economic growth the government's "top priority".

Slowing growth in China is also casting a further cloud over the broader global economy, which is still suffering the effects of the 2008-2009 financial crisis.

.


Related Links
The Economy






Comment on this article via your Facebook, Yahoo, AOL, Hotmail login.

Share this article via these popular social media networks
del.icio.usdel.icio.us DiggDigg RedditReddit GoogleGoogle








POLITICAL ECONOMY
Commodity prices win late rally on China stimulus hopes
London (AFP) July 13, 2012
Commodity prices, which fell during most of the past week, rallied strongly Friday on speculation of more China stimulus measures to boost demand in the Asian powerhouse nation. Commodities had earlier fallen mainly on uncertainty over prospects for more US stimulus and owing to a strong dollar dampening demand for raw materials priced in the American currency. Prices rebounded on offici ... read more


POLITICAL ECONOMY
European grain prices rise on global drought

Tannins in sorghum and benefits focus of university, USDA study

Messy experiment cleans up physics mystery of cornstarch

From aflatoxin to sake

POLITICAL ECONOMY
Toward Achieving One Million Times Increase in Computing Efficiency

Intel pumps billions into computer chip tool maker

Japan's Renesas eyes $550 mn savings, cutting 5,000 jobs

Discovery of material with amazing properties

POLITICAL ECONOMY
Iraq seeks to speed up F-16 deliveries

Boeing Commends ICAO Progress on Developing a Global Aviation Carbon Standard

Raytheon and US Navy begin MALD-J Super Hornet integration

Lockheed Martin F-35 Flight Test Progress Report

POLITICAL ECONOMY
Calling all truckers ... not!

Skoda Auto posts record first-half sales on China surge

Carnegie Mellon's smart headlight system will have drivers seeing through the rain

EU push for car CO2 cuts faces industry, green criticism

POLITICAL ECONOMY
US hails WTO win vs. China on electronic payments

Sydney navy base opened to cruise ships

Australia's resource boom to decline?

Paraguay not facing suspension: OAS

POLITICAL ECONOMY
Rising CO2 in atmosphere also speeds carbon loss from forest soils

Taiwan indicts loggers for axing 2000-year-old trees

Study Slashes Deforestation Carbon Emission Estimate

Scientists develop first satellite deforestation tracker for whole of Latin America

POLITICAL ECONOMY
New eyes in the sky

IGARSS 2012 - 'Remote Sensing for a Dynamic Earth'

MSG-3 set to ensure quality of Europe's weather service from geostationary orbit

Images in an Instant: Suomi NPP Begins Direct Broadcast

POLITICAL ECONOMY
UK nanodevice builds electricity from tiny pieces

Ferroelectricity on the Nanoscale

Unprecedented subatomic details of exotic ferroelectric nanomaterials

Tiny bubbles snap carbon nanotubes like twigs




The content herein, unless otherwise known to be public domain, are Copyright 1995-2014 - Space Media Network. AFP, UPI and IANS news wire stories are copyright Agence France-Presse, United Press International and Indo-Asia News Service. ESA Portal Reports are copyright European Space Agency. All NASA sourced material is public domain. Additional copyrights may apply in whole or part to other bona fide parties. Advertising does not imply endorsement,agreement or approval of any opinions, statements or information provided by Space Media Network on any Web page published or hosted by Space Media Network. Privacy Statement