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Decline in Economic Growth Seen as Main Foe

Government think tanks are gathering in Beidaihe seeking solutions to contain inflation and curb the decline of economic growth, said Nanfang Daily August 22, 2008. Sources reveal that the think tanks have unanimously agreed, “Decline in the economic growth is worse than inflation.” “The government will be able to stand a 6% annual inflation rate, but if the growth reaches below 10%, bad debts of financial institutions would be appalling.”

Source: People’s Daily, August 22, 2008

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