China’s economy will soon stabilise, before continuing its “fast and stable” growth, said Wen Jiabao, the country’s premier.
[Ed. Note: The fox's report from the hen-house is in... Everything's OK! Whew. What a relief.]
by Malcolm Moore, at the World Economic Forum in Tianjin
A raft of gloomy statistics since April has persuaded many observers that not only has the Chinese economy slowed down faster than expected this year, but that its period of high growth may have peaked.
But Mr Wen, 69, gave an upbeat assessment of the country’s prospects at the World Economic Forum’s summer meeting in Tianjin.
“I do not agree with the argument that China’s high growth has come to an end after 30 years,” said Mr Wen. “There is still much we can do.
China is a country with enormous potential and a big domestic market and we, the Chinese people, have full confidence in our development.”