From the Taipei Times: “The system is weak. The structure is irrational.”
Ma Kai, director of China’s National Development and Reform Commission
China will keep controversial exchange-rate controls and hold down industrial investment this year as it tries to rein in surging growth and restrain inflation, officials said yesterday.Chinese Premier Wen Jiabao (溫家寶) on Saturday announced an official target of 8 percent economic growth for this year, marking a renewed effort to cool off an expansion that last year soared to 9.5 percent, sparking fears of inflation and financial problems.
