How to weather financial winter
China has determined to weather the cold financial winter together with the rest of the world with concrete measures, says an article in the Beijing Times. The following is an excerpt:
The recent G20 meeting held in Washington DC has attracted wide attention from the whole world. People hope that this meeting can help the world effectively deal with the ongoing global recession. President Hu Jintao called for a reform of the international financial system with concrete measures at the meeting, stressing that the international community should carefully draw a lesson from this financial crisis.
For the world economy, it's obviously a hard time. The financial crisis triggered by the subprime mess has spread to affect all countries more or less. Even for China, there are signs of slowdown in various fields such as exports and imports, although China has not yet been plagued by complicated derivative products and subprime problems.