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» 06/20/2012
CHINA
Li Keqiang: "We must reform our economy, we are unbalanced"
The Chinese Vice-Premier, who in October should become the Prime Minister, emphasizes the need to change the national economy: "Do away with waste, of money and of energy." But the country today needs a real internal market and a labor reform that puts the worker at the center. The estimated GDP for 2012 drops again, and will be the lowest since 1990.

Beijing (AsiaNews) - Chinese Vice-Premier Li Keqiang, on the verge of becoming Prime Minister in the Communist Congress in October that will change the leadership in the country, has stressed the need to put in place a plan of economic reforms that will push domestic industries and reduce unnecessary expenses. Li, considered a reformist, thus places himself in line with the current government but is "open" to those who see the current Chinese economic system as a "monster" about to explode.

Several analysts also argued that the Asian giant is too unbalanced in its exports, adding that without creating a domestic market - with the consequent increase in wages and labor rights - China is likely to implode very soon. Moreover, the current trading system forces the regime to treat its citizens as slaves, who - increasingly in recent times - are starting to rebel, resulting in social instability.

Li spoke at the prestigious Chinese Academy of Sciences and revealed that the country "needs to speed up the development of new strategic sectors, including energy conservation, environmental protection, bio-industry and hi tech. Beijing must play a key role in reform, putting aside useless construction projects that cost too much."

Because of the financial crisis of the European and American working world, the Chinese government has been forced once more to revise its estimate for the gross domestic product relative to 2012, lowering it. Analysts believe that figure will stabilize around 7.5%, the weakest rate since 1990.

 

 


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See also
09/14/2006 CHINA
Shanghai star fading
04/16/2009 CHINA
China’s GDP growth to slow to 6.1 per cent
11/05/2008 CHINA
Hu Jintao in the United States for financial summit and to meet Obama
04/15/2010 CHINA
Record growth (+11.9 per cent), but many fear bubble and unemployment
01/03/2007 CHINA
Meagre profits for luxury brands

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