Word: wen
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...Ironically, this very outcome was predicted by China's Premier, Wen Jiabao. In a statement following the conclusion of the National People's Congress in March 2007, Premier Wen acknowledged that the Chinese economy looked extremely strong on the surface, especially in terms of GDP and employment growth. Yet, beneath the surface, he cautioned, such strength was far more questionable. In the case of China, he warned of an economy that was increasingly "unbalanced, unstable, uncoordinated and unsustainable." Little did he realize at the time how those "four uns," as they were later to become known, would pose an immediate...
...warning of the precarious state of the Chinese economy, Wen was expressing concerns about the nation's very risky macro bet. With nearly 80% of its GDP going to exports and fixed investment, China had become overly reliant on cross-border trade and on the investments required to support the logistics and capacity of its increasingly powerful export machine. Not only has China slowed dramatically - with export growth turning sharply negative in late 2008 and industrial output growth slipping into the low single digits - but the rest of an increasingly China-centric Asian economy has been quick to follow...
...that's not the only challenge that Asia faces. Significantly, Wen's warning was not just about the imbalances of an economic and financial structure that had become overly reliant on exports. By raising concerns over instability, he was also cautioning of the perils of overreliance on energy, industrial materials and base metals. In an era of booming global growth, the threat of the so-called commodity supercycle and its ever higher price structure was a crushing burden on resource-intensive developing nations. The Premier urged China to focus more on what he called a "scientific development" strategy that would...
...Wen said that she thought the rally achieved its goal of publicizing today’s meeting...
Seven students who were not previously involved in the group signed up for more information, Wen said...