News / Asia

China Renews Calls for Western Governments to Cut Deficits

Chinese Premier Wen Jiabao speaks at World Economic Forum at the Dalian World Expo Center in Dalian, in northeast China's Liaoning Province, September 14, 2011.
Chinese Premier Wen Jiabao speaks at World Economic Forum at the Dalian World Expo Center in Dalian, in northeast China's Liaoning Province, September 14, 2011.

Premier Wen Jiabao says China will continue to expand investment in eurozone countries, but says Western economies saddled with crippling debt should cut deficits rather than rely solely on his country to ease the global crisis.

Wen spoke Wednesday at a global economic forum in China. In his keynote address, he called on governments to make effective fiscal and monetary decisions.

"The main developed economies should make responsible and effective financial and fiscal policies, and handle the debt problems properly," said Wen. "They should maintain investment security and keep the stability of the world markets, and help build and sustain the confidence of global investors."

In return, the premier said China will do its part to ease the global crisis by maintaining economic stability and boosting domestic consumption.

"China will try its best to maintain the balance of stable economic development, economic structure adjustment and inflation control. We will try to keep the prices stable to avoid the ups and downs in the economy, and try to achieve the economic goal set at the beginning of the year," he said.

China is the largest foreign creditor of the United States, and is offering new investments to help stabilize Europe.

With more than $3 trillion in foreign currency reserves, Beijing already has committed to investing in Greece, Spain and Portugal - western Europe's three most indebted economies.

The Swiss-based World Economic Forum has brought world leaders and top business executives to China every summer since 2007. This year's conference comes as weakening demand in the United States and Europe prompted the Asian Development Bank on Wednesday to lower its growth forecast for Asia to 7.5 percent from 7.8 percent.

Some information for this report was provided by AP and Reuters.

You May Like

Video On The Scene: In Ethiopia, 'Are You a Journalist?' Is a Loaded Question

VOA's Anita Powell describes the difficulties faced by reporters in fully conveying the story in a country where people are reticent to share their true opinions More

Nigerians Await New President With High Hopes

When pomp and circumstance of inauguration end in Abuja, Buhari will sit down to the hard task of governing Nigeria More

India's Restrictions on Several NGOs Raise Concerns

Political analysts link recent clampdown on advocacy groups to report last year that said foreign-funded NGO’s negatively impact economic development More

This forum has been closed.
Comments
     
There are no comments in this forum. Be first and add one

Featured Videos

Your JavaScript is turned off or you have an old version of Adobe's Flash Player. Get the latest Flash player.
3D Printer Makes Replica of Iconic Sports Cari
|| 0:00:00
...    
🔇
X
George Putic
May 27, 2015 9:31 PM
Cars with parts made by 3D printers are already on the road, but engineers are still learning about this new technology. While testing the possibility of printing an entire car, researchers at the U.S. Department of Energy recently created an electric-powered replica of an iconic sports roadster. VOA’s George Putic has more.
Video

Video 3D Printer Makes Replica of Iconic Sports Car

Cars with parts made by 3D printers are already on the road, but engineers are still learning about this new technology. While testing the possibility of printing an entire car, researchers at the U.S. Department of Energy recently created an electric-powered replica of an iconic sports roadster. VOA’s George Putic has more.
Video

Video US Voters Seek Answers From Presidential Candidates on IS Gains

The growth of the Islamic State militant group in Iraq and Syria comes as the 2016 U.S. presidential campaign kicks off in the Midwest state of Iowa.   As VOA’s Kane Farabaugh reports, voters want to know how the candidates would handle recent militant gains in the Middle East.
Video

Video A Small Oasis on Kabul's Outskirts Provides Relief From Security Tensions

When people in Kabul want to get away from the city and relax, many choose Qargha Lake, a small resort on the outskirts of Kabul. Ayesha Tanzeem visited and talked with people about the precious oasis.
Video

Video Film Festival Looks at Indigenous Peoples, Culture Conflict

A recent Los Angeles film festival highlighted the plight of people caught between two cultures. Mike O'Sullivan has more on the the Garifuna International Film Festival, a Los Angeles forum created by a woman from Central America who wants the world to know more about her culture.
Video

Video Kenyans Lament Losing Sons to al-Shabab

There is agony, fear and lost hope in the Kenyan town of Isiolo, a key target of a new al-Shabab recruitment drive. VOA's Mohammed Yusuf visits Isiolo to speak with families and at least one man who says he was a recruiter.
Video

Video Scientists Say Plankton More Important Than Previously Thought

Tiny ocean creatures called plankton are mostly thought of as food for whales and other large marine animals, but a four-year global study discovered, among other things, that plankton are a major source of oxygen on our planet. VOA’s George Putic reports.
Video

Video US-led Coalition Gives Some Weapons to Iraqi Troops

In a video released Tuesday from the Iraqi Ministry of Defense, Iraqi forces and U.S.-led coalition troops survey a cache of weapons supplied to help Iraq liberate Mosul from Islamic State group. According to a statement provided with the video, the ministry and the U.S.-led coaltion troops have started ''supplying the 16th army division with medium and light weapons in preparation to liberate Mosul and nearby areas from Da'esh (Arabic acronym for Islamic State group).''
Video

Video Amnesty International: 'Overwhelming Evidence' of War Crimes in Ukraine

Human rights group Amnesty International says there is overwhelming evidence of ongoing war crimes in Ukraine, despite a tentative cease-fire with pro-Russian rebels. Researchers interviewed more than 30 prisoners from both sides of the conflict and all but one said they were tortured. Henry Ridgwell reports for VOA from London.
Video

Video Washington Parade Honors Those Killed Serving in US Military

Every year, on the last Monday in the month of May, millions of Americans honor the memories of those killed while serving in the armed forces. Memorial Day is a tradition that dates back to the 19th Century. While many people celebrate the federal holiday with a barbecue and a day off from work, for those who’ve served in the military, it’s a special day to remember those who made the ultimate sacrifice. Arash Arabasadi reports for VOA from Washington.
Video

Video Kenya’s Capital Sees Rise in Shisha Parlors

In Kenya, the smoking of shisha, a type of flavored tobacco, is the latest craze. Patrons are flocking to shisha parlors to smoke and socialize. But the practice can be addictive and harmful, though many dabblers may not realize the dangers, according to a new review. Lenny Ruvaga has more on the story for VOA from Nairobi, Kenya.
Video

Video Rolling Thunder Run Reveals Changed Attitudes Towards Vietnam War

For many US war veterans, the Memorial Day holiday is an opportunity to look back at a divisive conflict in the nation’s history and to remember those who did not make it home.
Video

Video Female American Soldiers: Healing Through Filmmaking

According to the United States Defense Department, there are more than 200-thousand women serving in the U.S. Armed Forces.  Like their male counterparts, females have experiences that can be very traumatic.  VOA's Bernard Shusman tells us about a program that is helping some American women in the military heal through filmmaking.

VOA Blogs