Is China Really Immune to the Crisis?
Addressing the annual World Economic Forum in Davos, Switzerland, Chinese Premier Wen Jiabao all but guaranteed that China’s annual growth would remain above 8% in 2009. Wen’s words were like warm milk to the recession-numbed audience, but it is far from obvious that China's government really has the tools needed to ensure the economy's resilience.
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CAMBRIDGE – Addressing the annual World Economic Forum in Davos, Switzerland, Chinese Premier Wen Jiabao explained his government’s plans to counter the global economic meltdown with public spending and loans. He all but guaranteed that China’s annual growth would remain above 8% in 2009. Wen’s words were like warm milk to the recession-numbed audience of global political and business leaders.