8% – Why Premier Wen Jiabao 温家宝 is my hero

Best New Years News

Premier Wen Jiabao

Premier Wen Jiabao

The best economic news this month has been from Premier Wen Jiabao 温家宝 .In his speech that Premier Wen gave at Davos yesterday 28 Jan 2009, Premier Wen annouced that China’s goal is 8% growth for 2009, he did qualify it by saying it would be difficult but it was achievable. Importantly his strategy is not just based on hoping Walmart will buy stuff but a lot of money will be thrown at improving infrastructure and health for all Chinese people.

Premier Wen is talking about spending 16% of  Chinas 2007 GDP in infrastructure developement. If Prime Minister Rud was to commit to the same thing then in Australia we would be throwing some of the order of  AUD $195 Billion dollars at our infrastructure.

If there is hope for the Australian economy, this is it.

I can’t believe the Australian, the Fairfax press, or the Australian Broadcasting Corporation have not made this one of their major headlines. Do any of these main stream media outlets believe that we will come out the recession by selling houses to each other.

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2 Responses

  1. Many of China’s people do love Premier Wen Jiabao.
    http://himyaosui.wordpress.com

  2. No one in America cares for a truly upright Chinese emperor. If he has nothing to eat or if he lives or dies, not one American cares. Sad. So, much for the true nature of the American people. Yes?

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