China pledges to stay course on stimulus - The Globe and Mail
China's consumer prices have fallen for six straight months, but economists think the pace of decline may have bottomed out, setting the stage for a potential rebound in inflation, fuelled by a record surge of bank lending in the first half of this year.
If there was any question of China tightening monetary policy or reining in government spending, however, Mr. Wen made clear that Beijing would stay the course on its expansionary, stimulative path for now.
“The foundations of China's economic recovery are not stable, not solidified and unbalanced,” he said.
“We cannot and will not change the direction of our policies at an inappropriate time. The top priority of our work is to maintain stable and quick economic growth, so we will unswervingly stick to a relatively loose monetary policy and an active fiscal policy.”
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About Me
- Robert Lewis and Jennifer Hodson
- Vancouver Island, British Columbia, Canada
- Jennifer believes we live in the garden of Eden and I believe that we are destroying it. Our saving grace is within ourselves, our faith, and our mindfulness. We need to make a conscious effort to respect and preserve all life.
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