2009-01-16 China News Highlights

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China Central Bank Attacks Paulson’s ‘Gangster Logic’
China to Enact Stimulus Plan for Nine Industries, Minister Says
China’s Economy Faces 2009 ‘Hard Landing,’ Fitch Says
China not to blame for crisis: Experts

Couldn’t agree more!

Let them export their brains out, while we sustain domestic demand with lower taxes/higher federal spending.

It’s all to our advantage!

China Central Bank Attacks Paulson’s ‘Gangster Logic’

by Li Yanping

Jan 16 (Bloomberg) — A Chinese central bank official attacked reported comments by U.S. Treasury Secretary Henry
Paulson that China’s high savings rate helped trigger the global credit crisis.

“This view is extremely ridiculous and irresponsible and it’s ‘gangster logic,'” Zhang Jianhua, the bank’s research head,
said. His comments were in an interview with the state-run Xinhua News Agency, posted on a government Web site today.


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