China’s U-Turn
At China's recent National People's Congress, Premier Wen Jiabao confirmed a major effort to extend and implement the previously announced four-trillion-yuan stimulus plan, and said that more funds were available if conditions worsened. But the government's target of 8% growth can be achieved only at the expense of environmental protection and energy efficiency.
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BEIJING – Hope and danger collided at the recently concluded National People’s Congress in Beijing. The two-week conclave meets annually, and while it is unfair and inaccurate to characterize the Congress as a rubber-stamp exercise, delegates tend, in the main, to jump on the bandwagon of policies constructed by the central government, and by the Communist Party.