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).
BEIJING, CHINA —
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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