The 'China answer' to crisis
Editor: An article in the People's Daily on Jan 5 authored by Ren Zhongping explains why China is the first country to recover from the financial crisis and is becoming a new growth engine of the world. Excerpts:
The world economy experienced unprecedented ups and downs in 2009 because of the international financial crisis, and China's economy withstood a series of challenges. The country experienced the most severe test since the beginning of the new millennium, becoming the first to achieve economic recovery and acting as a new growth engine for the world economy to bottom out.
In the face of the challenges in 2009, China handed over an excellent answer sheet. During that time, China's contribution to global economic growth exceeded 50 percent, leading to a new global economic pattern since the end of World War II.