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Tuesday, October 21, 2014

APEC Finance Ministers meet in Beijing

Chinese PRIME MINISTER Li Keqiang
APEC Finance Ministers meet in Beijing

Government officials and the private sector met this week in Beijing at the Conferenceof Finance Ministers of the APEC, which among other things discuss China's economic growth is slowing.

Chinese PRIME MINISTER Li Keqiang said, the Chinese Government is now prioritizingeconomic reforms and not pursue rapid growth (photo: dok).

The most important Agenda of the APEC Finance Ministers ' Conference in Beijing this week is exciting economic China.

China's GDP rose 7.3 percent in the quarter to 3. This is the lowest since 2009, when the economy is still trying to recover from the global financial crisis. Growth rate is also lower than the Government's target.

Sluggish economy will be a major issue in the meeting of APEC Finance Ministers this week in Beijing. Finance Ministers from the 21 APEC member countries, leaders of international organizations, and private sector executives will be present in the meeting that began Monday that.

Chinese Foreign Minister spokesman Hua Chunying describes target meetings this week.

Hua said, the theme of the meeting was to foster the future through partnership in Asia. The Finance Ministers meeting will achieve three objectives, said Hua, firstfinancial stability and strengthening the economy in Asia. China also will demonstratehis determination to strengthen the reform and create conditions conducive for ameeting of leaders of APEC countries in the beginning of November.

Earlier, PRIME MINISTER Li Keqiang said slower growth is part of a ChineseGovernment plan to prioritize reform rather than a rapid economic development. He and other government leaders pledged to reduce government debt and boostdomestic consumption.

Wang Dong, a professor at Peking University, said, "I think the Chinese economy ismelamban because there is a need for Chinese leaders, more concerned with the quality of growth and not quantity. I think this reasoned and here's how to redirect the economy China. "

The APEC Finance Minister's meeting this week will also discuss China's proposal forthe establishment of an Asian Development Bank, which will compete with the World Bank and the Asian Development Bank in the future. The Bank will fund developmentthroughout Asia and China lobbying other countries to add to the initial capitalpromised Beijing worth 50 billion dollars.

But the project sparked criticism from the United States Department of the Treasury, as it will minimize the influence of the World Bank and development banks Aisa.American authorities also warned the bank will have no environmental standards andother pengamaman that normally regulate the credit project by international institutions.

IMF: Global Economy Faced Risks Of Low Growth

IMF Director Christine Lagarde Thursday (9/10) said the global economy faced risks of low and uneven growth.

The Director of the International Monetary Fund (IMF) Christine Lagarde said the global economy faced "a new risk of mediocrity, where low and uneven growth."

Christine Lagarde delivered his judgement about the forecast of the world economy to the leaders of the international financial sector in the annual meeting of the IMF and the World Bank Thursday in Washington. Both these agencies routinely lendingbillions of dollars to countries in trouble to help cope with their financial difficulties.

The IMF this week said global economic growth slows, with forward projection of 3.3percent this year and 3.8 percent in 2015, both lower than previously expected.

Christine Lagarde said economic growth was not evenly distributed throughout the world, where growth in some countries are much better than others. (VOA)

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