Pakistanis angry over detentions in Times Sq. case Monday, May 24, 2010
ISLAMABAD – Relatives of three men detained by Pakistan for alleged links to the suspect in the attempted Times Square bombing say the men are innocent.
They
AFP - Thursday, August 6TAIPEI (AFP) - - Taiwan's Beijing-friendly government on Wednesday denied boycotting an Australian film festival amid a row over the e
BERLIN (Reuters) - Chancellor Angela Merkel suffered a double blow on Thursday as a senior party ally in east German
Minister seeks closure of anti-Berlusconi websites Wednesday, December 16, 2009
ROME (AFP) - – The Italian government moved Tuesday to close down Internet sites encouraging further violence against Prime Minister Silvio Berlusconi, who
By ELAINE KURTENBACH,AP Business Writer AP - Wednesday, March 18SHANGHAI - Asia's stock market rally seemed to be running out of steam Wednesday, despite an
Navigation
Primary Navigation
Home
Singapore
Asia Pacific
World
Business
Entertainment
Sports
Technology
Top Stories
Most Popular
Secondary Navigation
Singapore
Asia Pacific
World
Search
Search:
China's inflation to weaken further in December
AFP - Sunday, December 14
BEIJING (AFP) - - China's inflation will weaken further in December as the economy continues to slow, a key policy maker said Saturday, while also confirming next year's economic growth target will be eight percent.
The producer price index, PPI, will retreat "markedly" this month, increasing the possibility of deflation, said Liu Mingkang, chairman of China Banking Regulatory Commission, according to Xinhua news agency.
Deflation is a situation when prices actually fall, and some economists consider it more dangerous that inflation. This is because it encourages people to postpone buying products as they expect to get a better bargain later, but that in turn only serves to further slow down the economy.
Growth in the producer price index, which is very sensitive to overall trends in the economy, slowed to two percent in November, compared with 6.6 percent in October, data released earlier this week showed.
The consumer price index for November was up 2.4 percent from a year earlier, a 22-month low.
"PPI drops more sharply than consumer inflation during economic slowdowns, and this will mercilessly drag down consumer prices," Liu was quoted as saying by Xinhua.
China is targeting around eight percent economic growth for 2009 despite the challenges posed by the global woes, Liu said according to Xinhua.
It cannot be allowed to slow to six to seven percent as growth is needed to ensure sufficient employment and safeguard social stability, he said.
China's policy-making elite held a three-day meeting early this week -- the most important gathering of the year -- but did not announce a growth target for 2009 at the end of their talks.
Many major world economies have entered into a recession, with a big impact on China, Liu said.
"It's a fairy tale to think China will remain immune from what's happening in the rest of the world," he said.
In one indication of the impact the global weakening has on China's economy, the nation's exports fell in November for the first time in more than seven years.
Email Story
IM Story
Printable View
Blog This
Recommend this article
Average (1 vote)
Sign in to recommend this article »
Most Recommended Stories »
Related Articles: China's Economy
White House weighs options for auto bailoutAFP - 1 hour 26 minutes ago
TOPWRAP 3-N.Asian leaders team up, Ecuador cuts debtReuters - Sunday, December 14
China's inflation to weaken further in DecemberAFP - Sunday, December 14
SKorea, China, Japan show unity at first summitAP - Sunday, December 14
Related Articles: Business
Obama aide spoke to Ill. gov's office on Senate seatReuters - 31 minutes ago
List of potential victims grows in NY fraud caseAP - 33 minutes ago
White House weighs options for auto bailoutAFP - 1 hour 26 minutes ago
TOPWRAP 3-N.Asian leaders team up, Ecuador cuts debtReuters - Sunday, December 14
Canada agrees on conditional auto aid planAP - Sunday, December 14
Enlarge Photo
China's inflation to weaken further in December
Related Photos
Slideshow Full Photo Coverage: Business & Economy
Related Full Coverage
China Economy
china economy
All Full Coverage
Most Popular – Business
Viewed
US carmakers mull options as White House vows aid
US Treasury ready to stave off auto sector collapse
Nobel laureates crown U2's Bono 'man of peace'
Italian investor group formally takes over Alitalia
Greek youth protest switches to scene of teen killing
View Complete List »
Search:
Home
Singapore
Asia Pacific
World
Business
Entertainment
Sports
Technology
Top Stories
Most Popular