ft.com - 11/28/2008
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The downturn in the Chinese economy accelerated over the past month and could lead to high unemployment and social unrest, the country’s top economic planner warned on Thursday. Zhang Ping, chairman of the National Development and Reform Commission, said the government needed to take “forceful” ...
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Top Chinese official warns on downturn
FT Alphaville —
The downturn in the Chinese economy accelerated over the past month and could lead to high unemployment and social unrest, the country’s top economic planner warned on Thursday . In a rare news conference Thursday, Zhang Ping, chairman of the National Development and Reform Commission, said the government needed to take “forceful” measures to limit the slowdown in the economy, which included Wednesday’s large cut in interest rates – the fourth cut since September - and a sharp increase in fiscal spending. Noting that some domestic economic indicators point to an accelerated ...
Friday morning links
The Mess That Greenspan Made —
TOP STORIES Japan industry: 'Unprecedented' decline - CNN/Money Retailers Offer Big Discounts, and Then Pray - NY Times Shares up as India market reopens - BBC 'Shadow ECB' calls for immediate and drastic rates cuts - Telegraph Property market detox quashes investor appetite - Reuters Top Chinese official warns on downturn - Financial Times Government bailout hits $8.5 trillion - SF Gate MARKETS/INVESTING Oil falls below $54 ahead of OPEC meeting - ...
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