Chinese Premier Stays Positive in Economic Big Picture

The prospects for China’s economy were positive even though the world’s second largest economy continued to experience downward pressure, Chinese Premier Li Keqiang said on Wednesday.

At a meeting of company executives at the World Economic Forum (WEF) in the northeastern port city of Dalian, Li said China would maintain basic policy direction but get prepared to make pre-emptive adjustments.

“We won’t be swayed by short term economic fluctuations in our big picture direction,” said Li.

Li said the creation of over 7 million new urban jobs and keeping unemployment rate at 5.1 percent in the first half of this year showed China’s economy was on “reasonable track”.

via Reuters

Alfonso Esparza

Alfonso Esparza

Senior Currency Analyst at Market Pulse
Alfonso Esparza specializes in macro forex strategies for North American and major currency pairs. Upon joining OANDA in 2007, Alfonso Esparza established the MarketPulseFX blog and he has since written extensively about central banks and global economic and political trends. Alfonso has also worked as a professional currency trader focused on North America and emerging markets. He holds a finance degree from the Monterrey Institute of Technology and Higher Education (ITESM) and an MBA with a specialization on financial engineering and marketing from the University of Toronto.
Alfonso Esparza