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  • » 07/16/2012, 00.00

    CHINA

    Wen Jiabao warns: hard times ahead for Chinese economy



    The Chinese Prime Minister warns: "We are still within the limits, but over time things can get worse." Growth and the trade estimates fall: without democratic change, China risks losing everything.

    Beijing (AsiaNews / Agencies) - Chinese Premier Wen Jiabao warned today of the threat to the world's second largest economy, of having to face "new hard times" in the future. Speaking during a visit to Chengdu, in Sichuan, the prime minister said: "The economic growth rate is still within the government target range set at the year's beginning, and stimulus policies are working to land the country on the route toward stabilization. However, we should be clear that China's economic rebound is not yet stable, and economic hardship may continue for a period of time".

    In the second quarter of 2012, Beijing recorded its lowest growth rate of the last three years. The data on industrial production fell for the seventh consecutive month and the balance of trade with foreign countries does not bode well, however, the gross domestic product is stable.

    According to Wen "at the time, economic growth holds. But government officials and businesses need to take stock of the complexity and severity of current economic difficulties in a bid to reach China's economic and social development targets this year." Last March, the Prime Minister had announced a 7.5% target for the year: the eighth goal to decrease in a row.

    According to several analysts, Chinese growth can not resist a dictatorial one-party system. Without a democratic opening, economists and political scientists argue, China will not be able to respond to the shocks of the current financial crisis.

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    See also

    15/10/2010 CHINA
    Party Central Committee to address economic reforms, doubts over political reforms
    The 12th five-year plan (2011-2015) is on the agenda and could lead to a new model of economic development based on “inclusive growth”. The gap between haves and have-nots and “hatred of the rich” have become a major social problem. Corruption represents about 30 per cent of GDP. Wen Jiabao speaks of reforms, but there is resistance. Vice President Xi Jinping might be promoted.

    07/09/2010 CHINA
    Shenzhen, political reforms and the ambiguities of Wen Jiabao and Hu Jintao
    The Chinese President proposes political reforms for the capital of China’s modernisation but with “Chinese characteristics”. Two weeks before, Prime Minister Wen Jiabao had pleaded for political reforms; otherwise, economic modernisation would fail. Pro-democracy activists examine the issue. For some, the Chinese regime is not willing to “acknowledge internationally accepted values”.

    05/03/2010 CHINA
    Transform the economy, bridge the gap between rich and poor, says Wen Jiabao
    The economy’s planned growth rate is set at 8 per cent, inflation at 3 per cent. Real estate speculation should be reined in, domestic consumption increased. For the first time, social spending (education, health care and pensions) should grow faster than defence spending. Doubts linger over the plan’s overall feasibility because of resistance by local government.

    17/10/2006 CHINA
    Lin Mu dies in Xian: from Communist leader to democracy activist

    Lin, former aide and friend of reformist Hu Yaobang, died suddenly at the age of 79. Expelled from the Communist Party three times, he called for political reform and for the rehabilitation of the Tiananmen Square movement.



    18/10/2004 china
    Pressure mounts for release of Zhao Ziyang




    Editor's choices

    VATICAN
    Pope: together with the faithful in China on 24 May to celebrate Our Lady of Sheshan



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    VATICAN-CHINA
    May 24, 2017: 'China, the Cross is Red', AsiaNews Symposium

    Bernardo Cervellera

    The event will be held to mark the World Day of Prayer for the Church in China. A title with many meanings: the Cross is red from the blood of the martyrs; From attempts to suffocate the faith with state control; Bceause of the contribution of hope that Christianity gives to a population tired of materialism and consumerism that is seeking new moral criteria. The theme is also about the great and unexpected religious rebirth in the country. Guests to include: Card. Pietro Parolin, Msgr. Savio Hon, the sociologist of religions Richard Madsen, the testimonies of Chinese priests and laity.


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