China Premier Wen Warns Of Double Dip Recession Risk (NPC Videos)

DV China: 仿旧波动

China Premier Wen Jiabao at the National People's Congress press conference warned of double dip recession risk and stood firm on the RMBs (yuan) value. Wen said high unemployment rates in major economies, sovereign debt crises, risks in the financial sector, public finance, prices of bulk commodities, unstable currency exchange rates and inflation threats could bring setbacks to the global recovery or a double dip recession (used translation from CNN video below). I embedded a translated CNN video where he talks about the Chinese economy and gave a link to the full translated CCTV press conference.

Chinese Premier Jiabao Wen at NPC Press Conference




CCTV Full Video or clips w/ translation:
Full video: Chinese Premier Wen Jiabao meets press (link)
Premier Wen foresees bumpy road ahead for China's development (link)
Premier Wen says China must be "very cautious, flexible" in stimulus exit (link)
Wen criticizes U.S. protectionism (link)
Premier Wen says he is staunch supporter of free trade (link)

Links:
Economy faces threat of double dip (ChinaDaily)
China Premier Wen Jiabao says world risks double dip recession (TimesOnline)
China’s Wen Rebuffs U.S. Calls for Stronger Currency (Update2) (Bloomberg)
Chinese Premier Wen Jiabao's Comments Weigh On Risky Assets - Westpac (RTTnews)
Asian Currencies Weaken as Wen Rebuffs Calls for Stronger Yuan (BusinessWeek)

Comments

  1. Interesting, is he basing it on FDX testing 2008 resistance? I see IYT (transports etf) making new highs while FDX is below the blow off high made in Dec 09. The Shanghai Composite is under the 200DMA btw. I'm watching China shares, industrial commodities and a railfax roll over. Thx for that.
    http://www.flickr.com/photos/dvolatility/4435952413/ (IYT v. FDX)

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  2. Yeah, I looked at the FDX chart as well and frankly, I didn't see much there. All I can figure is:

    - FDX hasn't put in a new high since Dec I so maybe that's worrisome.
    - There's about 7 or 8 months of somewhat sideways congestion, so maybe that's what he's basing his assumption that FedEx isn't "busy enough".
    - FedEx management gave a weak view for the rest of 2010.

    I do note that FDX is out performing the SPX at the moment. I'm not too sure. Maybe the guy was talking his short book. ;-)

    Cheers.

    =^.^=

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  3. Total US Rail Traffic is up YoY but still in the red vs. 2008, except intermodal traffic on the week which is +2.9% vs. 2008. Photo from http://railfax.transmatch.com/
    http://www.flickr.com/photos/dvolatility/4436821588/

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