Monday, May 31, 2010

China's Wen: Second Global Downturn Possible

hinese Premier Wen Jiabao warned on Monday that global economic growth remained vulnerable to sovereign debt risks and the possibility of a second downturn, while saying his own country's growth remained on track.Wen mentioned problems of countries including Greece and added: "Is this phenomenon over? Now it seems that it is not so simple."

Wen Jiabao
Frederic J. Brown | AFP Getty Images
Wen Jiabao

Referring to the risk of a second dip in global economic growth rates, Wen said "I believe that we can't say with absolute certainty, so we must undertake close observation and act to prevent it."

He said it was too early for economies to consider exiting from their stimulus spending. Read more


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