18-03-2008
Chinese premier announces economic concerns
News by Adfero for Simply Business - independent providers of public liability insurance, business finance, landlord insurance, buy-to-let mortgages & commercial mortgages.
China's premier, Wen Jiabao, has announced worries in relation to the US economy.
Also expressing concern over the performance of the wider global economy, Mr Wen voiced trepidation over the impact of a continued weakness in the US dollar, reports the Financial Times.
Mr Wen speculated when the US dollar's lowest value might be reached and the monetary policy that would be implemented by the US in response.
"Global economic developments cannot but have an impact on China," said Mr Wen.
"As I have said before, 2008 might be the most difficult year for China's economy, because there are a lot of uncertainties both inside and outside the country."
Mr Wen made his comments during a news conference at the National People's Congress.
During trading today (March 18th), the dollar remained steady against the euro at $1.5821.
In related economic news, the US Federal Reserve is expected to announce its interest rate decision later today.