Chinese economy

Chinese Premier Wen Jiabao Sends An Ominous Warning On The Economy

Business Insider,

4 January, 2004

This is getting some attention this morning: Comments from Chinese Premier Wen Jiabo in regards to a difficult economy.

From Bloomberg:

Chinese Premier Wen Jiabao said business conditions may be “relatively difficult” this quarter and monetary policy will be fine-tuned as needed.

“We see downside pressure on our economy and elevated inflation at the same time,” Wen said during a two-day trip to Hunan province, according to a statement on the government’s website yesterday. “We also face problems of weakening external demand and rising costs for companies.”

In its first day of trading in the new year, the Shanghai Composite fell 1.3%.