UNCLASSIFIED
CELLOR OF
CHANCELLOR
THE EXCHEQUER
Economic developments in China and Asia
10. The
Chancellor asked whether growth in China could continue
as rapidly as it had in recent years. Sir William Purvis said that it was proving difficult to keep control of the money supply. Attempts earlier this year by Zhu Rongji had had to be stopped in the face of protests from farmers. He expected that growth would
continue though not as fast as at
The present.
Government hoped to get it down to 8-9 per cent.
-
Chinese
11. More generally, Sir William noted that growth in
South East Asia was continuing, despite the slowdown in North America and Europe. This was a sign that activity was being sustained by intra-regional trade; the region was no longer dependent on trade with North America and Europe.
UNCLASSIFIED
-
4
OWEN BARDER
No comments yet.
Private notes are available after approval.