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China's economy 'will grow' despite 'grim' 2012 outlook

Lyrical Mockery

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China's economic policymakers have pledged to guarantee growth in 2012, despite an "extremely grim" global outlook for the year ahead.

After their annual closed-door economic meeting in Beijing, the country's leaders declared that monetary policy would remain "prudent".

They said the currency, the yuan, would remain "basically stable".

The meeting avoided big policy changes before China's top two leaders retire next year, analysts said.

In another announcement, China's Commerce Ministry said it would put a tax on imports of small US cars.

'Grim and complicated'

The world's number two economy laid out its plans for the year against an uncertain economic outlook.

"The trend in the global economy on the whole is grim and complicated. Uncertainties are rising around a recovery in the world economy," said the statement, published by the official Xinhua news agency.

But it added: "China will ensure that macroeconomic regulation policies and overall consumer prices will remain basically stable and will guarantee the steady growth of the economy and maintain social stability."

The Central Economic Work conference brings together China's central and provincial bureaucrats, the heads of the biggest state companies and the army's top generals.

China's growth has slowed for three quarters in a row and some economists predict it could fall below 9% next year, for the first time since 2001.

The nation has had its own inflation problem, falling from a three-year high in July of 6.5% to 4.2% last month.

They reiterated their commitment to boost imports in order to balance trade. The move is likely to find favour with European and US exporters, who have long complained about the trade surplus China has been running.

Car wars

In the continuing trade spat between the US and China, the Commerce Ministry said it would impose an anti-subsidy and anti-dumping duty on small US cars.

The tariff will range from 2% to 21.5% and will affect General Motors, Chrysler, Ford and other US-based foreign car makers.

It will start on Thursday and last for two years, said a statement on the Commerce Ministry's website.

BBC News - China's economy 'will grow' despite 'grim' 2012 outlook
 
The real question is, how will we cope with the inevitable You Ess collapse?
 
Chinese growth is needed by everyone and Ihope they can continue on this path.

But allow me to point out the section below.
Car wars

In the continuing trade spat between the US and China, the Commerce Ministry said it would impose an anti-subsidy and anti-dumping duty on small US cars.

The tariff will range from 2% to 21.5% and will affect General Motors, Chrysler, Ford and other US-based foreign car makers.

Only yesterday we were being accused of protectionism when we took similar steps against dumping policies of PRC.
I wonder how the CN members feel now

Protectionism is going full-swing in India nowadays.

But hey... if you can't compete on efficiency, then what else can you do apart from increasing protectionism.
 
How come the government guarantee economic growth? Something fishy there
 
Chinese members are all in favor of Indian protectionism. And please buy more foreign jet fighters. You need more, much more.

Chinese growth is needed by everyone and Ihope they can continue on this path.

But allow me to point out the section below.


Only yesterday we were being accused of protectionism when we took similar steps against dumping policies of PRC.
I wonder how the CN members feel now
 
Not as fishy as most of your posts , if the government cannot guarantee economic growth who can? LOL i just dont get what you been taught at LSC my gosh.

Tell me how can a government guarantee economic growth? If the economic growths were in the hands of the government, every government on the earth would guarantee 20% growth rate to its citizens. And, for your information, I don't study at LSE, I study at LBS.
 
Tell me how can a government guarantee economic growth? If the economic growths were in the hands of the government, every government on the earth would guarantee 20% growth rate to its citizens. And, for your information, I don't study at LSE, I study at LBS.

Because a country like China is far from the saturation point of consumption. For example, most people in China don't have a second car. The govt. can give car rebates and drive sales through the roof again. If China can do it, then why not India?? Because Indian govt. is basically broke.
 
Tell me how can a government guarantee economic growth? If the economic growths were in the hands of the government, every government on the earth would guarantee 20% growth rate to its citizens. And, for your information, I don't study at LSE, I study at LBS.

Tell me if the economy success of a country is not down to that country government, why are we blame them when our economy is in trouble?
 
Because a country like China is far from the saturation point of consumption. For example, most people in China don't have a second car. The govt. can give car rebates and drive sales through the roof again. If China can do it, then why not India?? Because Indian govt. is basically broke.

Yes you can give rebates, but you cannot force people to buy a car. Anyway, most people would save in times of hardship,than buy a second car.
 
Tell me if the economy success of a country is not down to that country government, why are we blame them when our economy is in trouble?

Governments can only create a atmosphere for growth by regulations, legislations and laws, but they themselves cannot bring growth. We blame the governments because they are easy blame.
 

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