Monday, 21 November 2011

Its On: China vice premier sees chronic global recession

China vice premier sees chronic global recession

"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," Wang was quoted by the official Xinhua news agency as saying at the weekend.

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.

I read this as the Politburo can blame the world for the for the shit hitting the fan internally as the Ponzi disaster that is the Chinese economy is now unravelling.

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