My overriding impression from listening to Chinese Premier Li address the National People's Congress today (as read simultaneously by the CCTV translator) is...

John Robertson

PortfolioDirect

My overriding impression from listening to Chinese Premier Li address the National People's Congress today (as read simultaneously by the CCTV translator) is that China faces much the same problems as everyone else, namely, how to achieve a government growth objective in a market economy. Premier Li frankly admitted this was getting harder. The reaffirmed 7.5% growth objective is near the minimum needed to achieve the government's employment objective not a number that comes naturally to an economy in which the size of the service sector has just exceeded the rest of the economy for the first time. Li says he needs more efficient infrastructure, higher productivity and less government red tape. The days of edict and decree followed by the sweeping reform capable of transforming an economy are gone.


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John Robertson is Chief Investment Strategist for PortfolioDirect a provider of resource sector investment stock ratings and portfolio strategies for mining and oil and gas investors. He has worked as a policy economist, corporate business...

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