Home / Business Tools: Save | Print | E-mail | Most Read | Comment
Sinking global economy looks to China
Adjust font size:  ZoomIn ZoomOut

With the global financial crunch topping the agenda at recent international conferences, China is increasingly being seen as an important factor in resolving the crisis and creating stability.

China has been in the spotlight at several recent meetings including the Asia-Europe Meeting in Beijing, the prime ministers' meeting of the Shanghai Cooperation Organization (SCO) in Astana, the Group of 20 summit in Washington, and the ongoing Asia-Pacific Economic Cooperation (APEC) economic leaders' meeting in Lima.

Media and analysts have been busy interpreting Chinese leaders' remarks, analyzing China's solutions to the current financial crisis, and evaluating the country's contributions to the world economy.

RISING ECONOMIC STATUS

Behind such interest and attention is China's growing comprehensive national strength and international influence resulting from 30 years of reform and development.

According to China's National Bureau of Statistics, the country's economy in 2007 accounted for some 6 percent of world's total, a big increase from the 1.8 percent in 1978, making China the fourth largest economy in the world.

China has the world's largest foreign reserves and is the top trading partner of Japan and the second largest trading partner of the United States and the European Union.

Experts say the figures mirror China's growing role as both a commodity and service supplier and a large consumer in world trade, making it one of the major engines of the world economy.

During talks with Chinese Premier Wen Jiabao at the Asia-Europe Meeting on Oct. 24, European Commission President Jose Manuel Barroso said China is an important factor in stabilizing the global economy and has played a responsible role in dealing with the global financial crisis.

His remarks were echoed by Paul Evans, a professor at the University of British Columbia in Canada, in his article "Getting China just right," published in the Globe and Mail.

"China is no longer 'over there' but a daily part of our economic lives," he wrote. "The current financial crisis underscores the significance of China's new global role in unmistakable ways."

CHINA'S COMMITMENT, ACTION

Since the international financial crisis began, China has been taking active measures to fend off its ripple effect.

China earlier this month announced a stimulus package of 4 trillion yuan (about 570 billion U.S. dollars) to finance programs in 10 major areas over the next two years, including low-income housing, rural infrastructure, electricity and transport in a bid to offset adverse global economic conditions by boosting domestic demand.

At the SCO meeting in the Kazakh capital of Astana in October, Premier Wen said China's biggest contribution to fighting the global financial crisis would be to first maintain the stability of its domestic financial market and secure a stable and relatively rapid development of the Chinese economy.

China's economic stimulus plan has been hailed widely. World Bank chief Robert Zoellick said the package was "very wise," while David McCormick, the U.S. Treasury Department's undersecretary for international affairs, said the move could also benefit other nations in the aftermath of the crisis.

Brazilian Finance Minister Guido Mantega said the stimulus package was an "anti-cyclic" policy to avoid shrinking of the economy. China has taken "the lead" with the plan to avoid an economic slowdown amid the international financial turmoil, he commented.

European Central Bank head Jean-Claude Trichet said the move showed China "is certainly going in the right direction."

An article carried by French daily Le Figaro said the package reflects China's willingness to join the global effort to ride out the worst financial downturn in decades.

The massive stimulus plan could expand China's demand for imports and thus benefit the global economy, it added.

Peruvian President Alan Garcia, while addressing the APEC 2008 CEO Summit on Friday, said the stimulus measures have not only facilitated the restoration of the Chinese people's confidence but also helped the world regain confidence. Enditem

(Xinhua News Agency November 23, 2008)

Tools: Save | Print | E-mail | Most Read
Comment
Pet Name
Anonymous
China Archives
Related >>
Most Viewed >>
- CIC in talks with AIG over unit acquisition
- Work begins on Fujian nuke plant
- China's economic measures help restore world's confidence: Peruvian president
- Local gov'ts competing for investment to prevent slowdown
- The 6th China (Guangzhou) International Automobile Exhibition
- Output of Major Industrial Products
- Investment by Various Sectors
- Foreign Direct Investment by Country or Region
- National Price Index
- Value of Major Commodity Import
- Money Supply
- Exchange Rate and Foreign Exchange Reserve
- What does the China-Pakistan Free Trade Agreement cover?
- How to Set up a Foreign Capital Enterprise in China?
- How Does the VAT Works in China?
- How Much RMB or Foreign Currency Can Be Physically Carried Out of or Into China?
- What Is the Electrical Fitting in China?
主站蜘蛛池模板: 国产无套粉嫩白浆在线观看| 成人免费一区二区三区视频| 亚洲成aⅴ人片在线观| 米奇777四色精品人人爽| 国产一级一片免费播放视频| 国产麻豆精品原创| 国产精品第二页在线播放| japan高清日本乱xxxxx| 成人h动漫精品一区二区无码| 久久亚洲精品成人综合| 最好看最新日本中文字幕| 亚洲午夜国产精品无码| 欧美高清性XXXXHDVIDEOSEX| 人妻少妇精品视频一区二区三区| 中国一级特黄特色**毛片| 日本护士恋夜视频免费列表| 亚洲Av高清一区二区三区| 欧美日韩a级片| 亚洲欧美成人在线| 波多野结衣痴汉| 人妻少妇精品久久久久久 | 快播电影网日韩新片| 中文字幕日韩精品有码视频| 日本videos18高清hd下| 久久国产精品免费一区二区三区 | 亚洲欧洲日本精品| 欧美色欧美亚洲另类二区| 亚洲经典在线中文字幕| 男人把女人狂躁的免费视频| 免费观看一级毛片| 精品久久久久久亚洲| 午夜爽爽爽男女污污污网站| 老师粗又长好猛好爽视频| 国产一区二区三精品久久久无广告| 青青草偷拍视频| 国产免费一区二区三区在线观看| 麻豆国产精品va在线观看不卡| 国产成人8X视频网站入口| 黑人巨大sv张丽在线播放| 国产成人精品一区二区三区免费 | 色综合色国产热无码一|