IMF: China's Economic Growth Will Drop By 4%
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Follow us on TWITTER: http://twitter.com/cnforbiddennews Like us on FACEBOOK: http://www.facebook.com/chinaforbiddennews IMF (International Monetary Fund) recently warned that the global recession, triggered by Euro-zone's debt crisis, will lead to a 4% decline of China's economic growth. Economic experts think the impact will be not only on China' economy, but will also shake the Chinese communist regime. IMF published "China's Economic Outlook" on Monday. The report stated that China's growth forecast this year was adjusted from 9% to 8.25%. The European debt crisis will bring a global economic shock. The ripple effect will make China's economic growth drop by 4% from 8.2%. IMF issued a report in January, pointing out that the world economy'overall growth is likely to decrease by 1.75%. If so, China's economic growth will be reduced by 4%. New York City University's Professor of Economics, Chen Zhifei, commented on the issue. Prof. Chen thinks, if IMF's prediction becomes a reality, China's economic "hard landing" is unavoidable. Prof. Chen: "The consequences are unimaginable and the impact on the world economy is huge. But the most shocking consequences would be inside China." Prof. Chen analyzed that the huge impacts include increasing unemployment rate, rapid rise in inflation and lending system, and the collapse of the banking system. US Wall Street Journal reported on Tuesday, about HP's international credit rating (Fitch Ratings). It said, with the global economic slowdown, China's housing market and banking sector are both likely to pose a threat to China's economy. China's economic "hard landing" in 2012, is the greatest potential risk for the global economy. BBC.CN cited Daily Telegraph'article about the Euro-zone's debt crisis leading to reduction of the demand for Asian goods. It stated that Shanghai port's shipping in January shrunk dramatically, with a drop by more than a million ton. This is indicative that China's economy will enter cold times. Professor Wu Huilin from China Economic Research Institute, Taiwan, said Taiwan will be affected by China's economy fall. Prof. Wu: "Taiwan has very close economic ties with China, and both are interlinked. So we should not expect these ties to survive. It is unlikely to maintain that so-called planning policy." Besides, Prof. Chen believes that the largest and the most fundamental impact may be felt by the Chinese regime. GDP growth in China is the biggest political task and CCP's (China's Communist Party) only or most powerful excuse to maintain the one-party dictatorship. Prof. Chen: "If a "hard landing" brings down this excuse, or feast that gives the legitimacy of its controlling status, this will lead to a political turbulence. There will be mass protests demanding that the CCP exits the stage of history. This in itself will rewrite the history." The mainland media did not report anything on the warning of "China's economic growth may decrease by 4%." NTD reporters Liu Hui, Li Jing and Li Anan. 《神韵》2011世界巡演新亮点 http://www.ShenYunPerformingArts.org/
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You mean like all those "crappy" iPhones you get for $300? How about those $350 Playstation3? We'll see if you're still singing this tune when your iPad costs $3000. The problem is NOT the Chinese selling shit. No one is making you buy shitty products. It's just that when you are offered a good T-shirt for $80 made in USA you freely CHOOSE to buy 10 x $8 T-shirts made in China. - Don't worry, if you live in the USA, your standard of living will be going down soon enough. Then we'll see War.
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Good !! I hope the damn Chinese economy turns to the shit just like all the crappy products they sell. Their government is dangerous, they don't give a damn about the environment and they are ruthless in trade.
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