Russia, China warn of dire economic straits in 2009

… Commenting on the worsening situation, Deputy Interior Minister Mikhail Sukhodolsky, warned that unpaid wages, the threat of layoffs and unpopular government anti-crisis measures “may aggravate the protest mood.”

China’s top economic planner also warned of “great challenges” ahead.


The head of the National Development and Reform Commission, Zhang Ping, said “grave risks” lay ahead for goals of fast growth and high employment if the government did not manage to stimulate demand and maintain export growth.

Economists have warned that the global downturn could mean that China will end 2008 with its weakest economic growth for nearly two decades. China has not posted annual growth of less than 7.6 percent since 1991.

AFP