The communist captialist People’s Republic of China is not doing so badly… according to them. Chinese Premier Wen Jiabao is happy that China’s stimulus package is working, the country has sufficient capital, a solid banking industry and heaps of labour resources (ok, so we all knew that last one). And if China is going to pull out of this, hopefully they can pull the rest of us with them.
Wen (or his translator) puts it pretty well:
“Confidence is more important than currency or gold. Today, I want to say that hope is also important. It’s like a beacon.”
Source: WSJ
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