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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China is facing a new economic crisis, and it is not about mounting local debt or even a rapidly slowing property market. The crisis in the making is about family business succession in the world’s second-largest economy. This issue may seem innocuous for many observers, but it is in fact one of the many pressing issues for the country’s economy, which is undergoing a painful process of rebalancing. Why is the family succession issue so important?
Professor at Columbia University. Recipient of the Nobel Memorial Prize in Economic Sciences in 2001 & the John Bates Clark Medal in 1979. Author of "Freefall: America, Free Markets", "The Sinking of the World Economy", "Globalisation and its Discontents" & "Making Globalisation Work".
Mario I. Blejer is a former governor of the Central Bank of Argentina and former Director of the Center for Central Banking Studies at the Bank of England. Eduardo Levy Yeyati is Professor of Economics at Universidad Torcuato Di Tella and Senior Fellow at The Brookings Institution.