Puma Espera II Chinas Economy By Sha Puma Ballerin

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bilateral relations have grown tense over President Barack Obamas meeting with the Dalai Lama followed by the Secretary of State, Hillary Clinton meeting. The cyber attack on Google Inc. is widely seen as originating in China. Google has not officially declared that the government had any role in it.

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Chinas Economy: by Shaw Capital Management Korea - China will continue fiscal stimulus spending and its current monetary policies this year as the country has, in the opinion of the Chinese Communist Party, not fully recovered from the economic downturn.
The Chinese economy grew 8.7% in 2009, and will expand 8.5% in 2010. The consumer price index rose 1.5% in January from a year earlier, slowing from a 1.9% rise in December.
According to the State Administration of Foreign Exchange, the currentaccount surplus dropped to $284 billion [link widoczny dla zalogowanych], down by about a third from $426 billion for 2008, which was a record. It is the first decline in the currentaccount balance since 2001.
Shaw Capital Management Korea - Chinas exports fell last year as global demand collapsed, but the nations stimulus plan helped support imports. China now accounts for more than 9% of global exports, a share that has been rising since the outbreak of the financial crisis and the ensuing collapse in global trade. Chinas government says it isnt banking on an export-driven future and has tried, though so far without much success, to shift the emphasis of the economy to domestic consumption and services.
According to International Monetary Fund projections, if current trends continue, Chinas share of world exports will reach 12% by 2014, a higher portion than Japan managed at the peak of its dominance in the 1980s. Chinas trade deficit with the US totalled $226.83 billion in 2009 the largest imbalance with any nation. Mr. Obama has promised to the Congress to get much tougher with China on trade rules, including currency rates,
to ensure that U.S. goods are not at a competitive disadvantage.
Shaw Capital Management Korea - India filed more trade complaints against China than any other nation in 2009, according to figures from Chinas commerce ministry. A balance of exports and imports is important, Indian Trade Minister Anand Sharma said in January in Beijing. Chinas trade surplus with India grew 46% in 2009 to $16 billion, probably aggravated by the weakening of the yuan against the Indian rupee.
China continues to remain the worlds largest foreign holder of the US dollar bonds which stands at US$895 billion. The second biggest holder of the US debt is Japan (US$760 billion).
Premier Wen will deliver the Government Work Report in the annual session of the National Peoples Congress (NPC), Chinas parliament, beginning on March 5. It will spell out Beijings economic blueprint for 2010 and economic growth targets.
Shaw Capital Management Korea - This years theme is balanced economic growth. The focus of new fiscal spending is set to shift away from new infrastructure investment to education, healthcare [link widoczny dla zalogowanych], and other pro-consumption areas. There may be a push to accelerate urbanisation outside of the large cities and in inland regions. The party will endorse measures to increase wages and income. The government has already raised the minimum wage in cities from Beijing to Guangzhou by 10% or more early this year.
The Wen cabinet has indicated that old-age benefits for peasants will be tried out this year and will be made available to all by 2015. Monetary policy will focus on bringing down credit growth to a normal rate of around 17%, from last years excessive 32%.
Shaw Capital Management Korea - While the 2009 NPC harped on attaining an 8% growth rate [link widoczny dla zalogowanych], the priority for this years session is to ensure a more equitable distribution of national
income. This years NPC will benefit from the lifting of the global economic gloom that hung over last years session.
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