Chinese President Hu Jintao uttered some very worrisome words over theweekend.
“China is under growing tension from its largepopulation, limited resources and environment problems, and needs faster reform of its economic growth pattern toachieve sustainable development.”
“External demand has obviously weakened, and China’straditional competitive advantage is being gradually weakened.”
Since seldom is heard a discouraging word out of Chinese officials, I have to believe that Chinese leaders are gettingready for very tough times.
