As per recent reports on China economic conditions Chen Deming, Commerce Minister of China professed nation’s commitment towards free trading and similar economic policies.
According to his opinion this is one of various ways to address present Chinese economic conditions. He opined that free trade would be beneficial for world economy as well.
Latest reports on economic conditions of China have confirmed that this Asian nation has adopted an approach of open trading to address economic imbalances. It has been encouraging local companies to conduct business with their European counterparts.
As far as information on economic conditions in China is concerned 37 procurement deals have been signed by China with Germany. Aggregate worth of these procurement contracts are 11 billion Euros.
Economic conditions at China and reports regarding same suggest that Chinese economy has been recovering from tremors of global economic catastrophe. However, there are still some effects of ongoing economic crunch.
News on China economic conditions have revealed that in 2008 fiscal Chinese economy grew at a rate of 9 percent. This was lower than in fiscal 2007 when rate of growth was 13 percent. Rate of economic growth in last quarter of 2008 fiscal was 6.8 percent.
As per newest reports on China economic conditions state owned banks of China have provided loans worth $175 billion. This money was provided in order to help national economy. In other reports from China economic world purchasing managers’ index of Chinese government has gone up in January 2009 to 45.3 percent from 41.2 percent as was case in December 2008. This index is used to measure economic activities in China’s manufacturing sector.
Consumer prices have increased at a rate of 0.9 percent in January 2009 compared to December 2008. Much of this has to do with fact that Lunar New Year occurred in January this time around.
In its reports on China economic conditions in 2009 World Bank has predicted that in that period Chinese economy would grow at a rate of 7.5 percent. A growth rate of 8 percent has also been predicted for China economy in 2009 fiscal.
National Reform and Development Commission has said that it is hopeful that its economic measures would be helpful in restoring China economic conditions to their normal self.
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This is an eventful week, but the economic calendar starts slowly. The FOMC meeting, first look at Q1 US GDP and the US jobs report, are the highlights. The capital markets are also off to a slow start. The US dollar is narrowly mixed. Against most of the major currencies, the greenback has been confined to about a 15 tick range.
Nouriel Roubini, a.k.a. “Doctor Doom”, is chairman of Roubini Global Economics and professor of economics at New York University’s Stern School of Business. Roubini has been consistently cited as one of the world’s top global thinkers. This year, he was voted as the most influential economist in the world by Forbes magazine.
Professor of Economics & Director of the Earth Institute at Columbia University. Special Adviser to the UN Secretary-General on the Millennium Development Goals. Founder & co-President of the Millennium Promise Alliance.
Chancellor of the Exchequer of the United Kingdom from 1992 to 2007. Prime Minister of the UK between 2007 and 2010. Inaugural 'Distinguished Leader in Residence' at New York University. Advisor at World Economic Forum