China Pledges to Boost Economy

On Saturday the 25th of October the Chinese Premier Wen Jiabao admitted, on the
two-day Asia-Europe meeting in Beijing, that his country was feeling some effects of the worldwide financial crisis. 43 leaders of nations were there to make new rules to guide the global economy. They also agreed that the IMF (International Monetary Fund) should take a leading role in assisting countries that are seriously affected by the crisis, if they request it.

Premier Wen Jiabao said that the government must spend to avoid a big crisis in the own economy.
He thinks that the government has to do everything to avoid that the financial crisis has an impact on the real (Chinese) economy.

Unfortunately it has already a ‘little’ impact because the Chinese economy is slowing down because of the smaller demand from foreign countries. China doesn’t export as much as in the previous years. However, the Chinese economy has still the fastest growth rate among the world’s largest economies.

On the two-day meeting the 15 euro zone countries and the UK have agreed to put a
$2.3 trillion in guarantees to help banks. The Asian countries have decided to create a
$80 billion emergency fund to help those who are facing liquidity problems.

I think that it's logical that also China feels some (negative) effects from the financial crisis but it's very good of the government that they will do efforts to minimalise those effects. By giving a boost to the national economy, they're on a good way! But I don't think that China has so much worries because even in financial crisis they have the fastest growth rate among the world's largest economies.

source: http://online.wsj.com/article/SB122495542486569603.html