Updated: 2009-10-19 19:33
BEIJING: (Xinhua) China's gross domestic product (GDP) growth in the first three quarters should exceed 7 percent, Xiong Bilin, deputy director general of the Industry Department of the National Development and Reform Commission (NDRC), said Monday.
The specific GDP growth figure in the first three quarters is scheduled to be released Thursday.
Few difficulties stood in the way of China realizing its annual target -- made early this year -- of 8 percent GDP growth year on year, said Xiong at a press conference highlighting production overcapacity.
China's GDP growth was 7.1 percent in the first half over the same period last year with 6.1 percent in the first quarter and 7.9 percent in the second.
The NDRC would mainly redress production overcapacity in six sectors, including steel, cement, plate glass, the coal-chemical industry, polycrystalline silicon and wind power equipment, said Xiong.
The NDRC also warned of obvious production overcapacity in sectors like electrolytic aluminum, ship manufacturing and soybean oil extraction.
Rightardia comment: Although China is a communist country, it has a mixed economy and has divested itself of most of its state run enterprises to improve efficiency. Many political scientists suggested 40 years ago that the big models for Third World countries would be China and India: China is using a socialistic model and India: a capitalist one.
China seems to have avoided the socialist dictator trap that has plagued countries like North Korea and Cuba and has a functional one party system.
American democracy has become dysfunctional to the point that our country could be described as bi-polar. The Democrats want to rebuild the roads and bridges and rebuild the school system. The Democrats prefer diplomacy to war. The Democratic approach is more internal.
The Republicans seem to be hell bent on stopping the spread of socialism even when foreign governments are democratically elected. It prefers to invest more of the national treasure in defense, perhaps more accurately described as military offence.The Republican approach is external empire building one. Republicans want to restructure the world in America's image.
Rightardia suggests the Chinese and Indian models are more relevant to emerging countires.
source: http://www.chinadaily.com.cn/china/2009-10/19/content_8815212.htm
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Netcraft rank: 7039 http://toolbar.netcraft.com/site_report?url=http://rightardia.blogspot.com
India has made alot of progress, but China seems to be the superstar of the two Third world giants.
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BEIJING: (Xinhua) China's gross domestic product (GDP) growth in the first three quarters should exceed 7 percent, Xiong Bilin, deputy director general of the Industry Department of the National Development and Reform Commission (NDRC), said Monday.
The specific GDP growth figure in the first three quarters is scheduled to be released Thursday.
Few difficulties stood in the way of China realizing its annual target -- made early this year -- of 8 percent GDP growth year on year, said Xiong at a press conference highlighting production overcapacity.
China's GDP growth was 7.1 percent in the first half over the same period last year with 6.1 percent in the first quarter and 7.9 percent in the second.
The NDRC would mainly redress production overcapacity in six sectors, including steel, cement, plate glass, the coal-chemical industry, polycrystalline silicon and wind power equipment, said Xiong.
The NDRC also warned of obvious production overcapacity in sectors like electrolytic aluminum, ship manufacturing and soybean oil extraction.
Rightardia comment: Although China is a communist country, it has a mixed economy and has divested itself of most of its state run enterprises to improve efficiency. Many political scientists suggested 40 years ago that the big models for Third World countries would be China and India: China is using a socialistic model and India: a capitalist one.
China seems to have avoided the socialist dictator trap that has plagued countries like North Korea and Cuba and has a functional one party system.
American democracy has become dysfunctional to the point that our country could be described as bi-polar. The Democrats want to rebuild the roads and bridges and rebuild the school system. The Democrats prefer diplomacy to war. The Democratic approach is more internal.
The Republicans seem to be hell bent on stopping the spread of socialism even when foreign governments are democratically elected. It prefers to invest more of the national treasure in defense, perhaps more accurately described as military offence.The Republican approach is external empire building one. Republicans want to restructure the world in America's image.
Rightardia suggests the Chinese and Indian models are more relevant to emerging countires.
source: http://www.chinadaily.com.cn/china/2009-10/19/content_8815212.htm
Subscribe to the Rightardia feed: feeds.feedburner.com/blogspot/IGiu
Netcraft rank: 7039 http://toolbar.netcraft.com/site_report?url=http://rightardia.blogspot.com
India has made alot of progress, but China seems to be the superstar of the two Third world giants.
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