Hu Tells Leaders Growth in China Will Help Lift World Economy

President Hu Jintao delivered an address to the G20 summit in Washington today. From Bloomberg:

Chinese President Hu Jintao, speaking to leaders from the Group of 20 nations in Washington, said China can help alleviate the impact of the financial crisis and slowing global growth by stoking its own economy.

“Steady and relatively fast growth in China is in itself an important contribution to international financial stability and world economic growth,” Hu said today, according to the official Xinhua News Agency.

Reuters also reports on new anti-dumping duties imposed on China by the EU:

With trade disputes between Brussels and Beijing on the rise, the move comes as Chinese officials meet their European counterparts at the Group of 20 advanced and emerging nations in Washington.

Import tariffs of up to 60 percent will be slapped on Chinese candles which accounted for 300 million euros ($380.6 million) of the EU market, worth 810 million euros in 2007.

Extra duties of up to 50 percent will also be placed on non-alloy steel wire products from the Asian powerhouse for the next six months, the EU’s Official Journal said.

Read also the Statement From G-20 Summit via the New York Times. For background on the G20 summit, read this previous CDT post.

November 15, 2008 9:36 PM
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