China May Maintain Fast Growth Amid Crisis, Premier Wen Says
Source: http://blogs.moneyandmarkets.com/blog/real-wealth/0/0/china-may-maintain-fast-growth-amid-crisis-premier-wen-saysPosted on Tuesday, October 7th, 2008 | In Commodities
Oct. 6 (Bloomberg) — China’s financial system is safe amid a deepening global crisis and the world’s fourth-biggest economy may be able to maintain fast growth, Premier Wen Jiabao said.
Wen said he had full confidence in China’s economic development and stability, according to the official Xinhua News Agency. The financial system is sound and safe, he said.
Governments in Europe are racing to shore up faltering financial institutions and the U.S. is enacting a $700 billion rescue package as the credit crisis deepens, increasing the risk of a world recession. China can best aid the global economy by maintaining lasting, smooth and fast economic development, the premier said.
China has escaped the worst of about $590 billion of global losses from securities tied to U.S. home loans, Bloomberg data shows. The Asian share of the total is $24.5 billion.
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bloomberg, China, Commodities, Europe, United States, USD, Wen Jiabao, Xinhua News Agency
 About Larry Edelson (http://blogs.moneyandmarkets.com/blog/real-wealth)
With nearly three decades of experience in precious metals and natural resources markets, Larry Edelson has played a pivotal role in training Weiss Research staff and in guiding Weiss Research’s customers to prudent investments in the sector. His Real Wealth Report, Gold Trader Hotline and Energy Options Alert provide a continuing education on natural resource investments, with recommendations aiming for both profit and risk management. His team of technical analysts helps enhance the timing of investment recommendations with the aim of continually improving the performance results for investors. Mr. Edelson is also a regular contributor to the daily e-letter, Money and Markets. Recognized as an expert in precious metals and natural resources, he is often called upon by the media for his investing views. Mr. Edelson has been featured on Bloomberg, Reuters, and CNBC as well as The New York Times, New York Sun, and Marketwatch.com Mr. Edelson holds a B.A. degree from Columbia University. |
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