The People’s Bank of China (equivalent to our FederalReserve Bank) doesn’t make statements withoutcareful thought and planning.
“The impact of the international financial crisis is intensifying, and the uncertainty of the domestic economy isincreasing. The risk of an economic slowdown is expanding.”
“With the slowdown of the world economy and rising unemployment, anti-globalization, represented by tradeprotectionism, is likely to exist for a long time. It will cause a negative impact on the sustainable, healthydevelopment of the world economy.”
If the PBC says things are bad….I am sorry to say that you should believe them.
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