Wednesday 14 December 2011

CHINA AND THE WORLD ECONOMY

International Business Times

CHINA MAKES GROWTH GUARANTEE DESPITE GRIM GLOBAL ECONOMY

Koh Gui Qing and Zhou Xin

International Business Times, December 14, 2011

(Reuters) China pledged to guarantee growth in the face of an "extremely grim" outlook for the global economy in 2012, as its annual policy-setting conference closed on Wednesday with a series of commitments to deliver economic stability.

Laying out a blueprint for the world's second-biggest economy in the year ahead, Beijing promised to keep monetary policy "prudent" and fiscal policy "pro-active" while ensuring stable consumer prices -- language broadly in line with previous commitments.

But it was China's view on the global economic backdrop that was a sign of the policy challenge that could lie ahead.

"Looking into next year, the trend in the global economy on the whole is grim and complicated. Uncertainties are rising around a recovery in the world economy," said a statement published on the official Xinhua news agency after the end of the annual conference.

Beijing's wish to downplay those risks domestically was apparent in all the economic plans outlined, which broadly endorsed a decision by China's top leaders last week to avoid big policy changes before a critical leadership succession in 2012 that will see the nation's top two leaders retire.

"Stability means to maintain basically steady macro-economic policy, relatively fast economic growth, stable consumer prices and social stability," one of several statements carried by the official Xinhua news agency said.

(...) [artículo aquí]

No comments: