China Economy Facing Most Difficult Year: Wen

AFP reports on the press conference that closed this year’s NPC/CPPCC session:

In a closing press conference at the annual parliamentary meeting, Wen said his government faces the conflicting tasks of trying to create jobs through fast-paced economic growth while also battling inflation and excessive investment and credit.

“I am afraid that this year could be the most difficult year for the Chinese economy,” Wen told journalists.

…China’s economy boomed at an 11.4 percent clip last year, with inflation rising 4.8 percent for the year. Prices continued to climb to a near 12-year monthly high of 8.7 percent in February.

See also “China to Take `Forceful’ Steps on Inflation, Wen Says” from Bloomberg. The International Herald Tribune also writes about Wen’s discomfort as he is forced to answer questions about topics he’d rather not discuss, including the unrest in Tibetan areas and the trial of activist Hu Jia.

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