20 Nov '11, 7am

China's vice-premier sees chronic global recession

China's vice-premier sees chronic global recession

A long-term global recession is certain to happen and China must focus on domestic problems, Chinese vice-premier Wang Qishan (above) has said. -- PHOTO: AFP BEIJING (REUTERS) - A long-term global recession is certain to happen and China must focus on domestic problems, Chinese vice-premier Wang Qishan has said. 'The one thing that we can be certain of, among all the uncertainties, is that the global economic recession caused by the international financial crisis will be chronic,' Mr Wang was quoted by the official Xinhua news agency as saying at the weekend. Mr Wang's comments were the most bearish forecast ever by a top Chinese decision-maker about the world economy, and Beijing's worry about a worsening global environment could translate into an impetus for pro-growth policies at home. China launched a massive fiscal stimulus package with a price tag of 4 trillion yuan ...

Full article: http://www.straitstimes.com/BreakingNews/Money/Story/STIS...

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