China and USA leader talk how to tackle global financial crisis
Posted on Oct-22-2008· by china investor
Yesterday,President Hu Jing Tao call to President Bush,talk about how to tackle global financial crisis,they all have cognizeance of international cooperation is necessary.
Lately,many papers said CHINA must buy more nation debt,CHINA must contribute his money to specical country.But,I had to say,CHINA have his trouble too.Close to 2008 3Q,The amount of foreign trade in CHINA increce 21%,but actually because US dollor depreciate in global system and CHINA YUAN depreciate in china inside system,the amount should been adjust to nearly zero or negative.AS we all know,2/3 of chinese GDP is base on foreign trade,So we can image the crisis that china will face.
I living china,and although there have many problem need to improve,but I love the country,I hope CHINA can face the crisis,not just say we have so strong economy…..,That is nonsense. Nearly,the biggest trade meeting in the world in GUANGZHOU,we found the amount of trade is just 1/3 of last year,What we need to do is stop saying,just doing,we are weak,not strong.
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global financial crisis
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