Chinese premier warns stimulus not a solution
“The foundation of an economic recovery is not solid yet with many uncertain factors,” Li said in a speech today at the World Economic Forum in Dalian, China. The nation is taking steps to stabilise growth and can achieve the main economic targets this year, Li said.
Policy makers have signalled they will defend a 7.5% expansion goal for 2013 and seek to ensure a pace of 7% in the coming years. Li pledged reforms that would ripple throughout the financial system as Communist Party leaders prepare for a November meeting to lay out a blueprint for sustaining long-term growth.