China: Protecting Domestic Economy Is Top Priority

By: Associated Press Email
By: Associated Press Email

Beijing (AP) China appears to be taking a “go it alone” attitude when it comes to the global fiscal crisis.

Government officials indicated today they prefer to focus on their country's economic stability, and won't give in to pressure to contribute to a global bailout fund.

That word comes days ahead of next weekend's Global Summit I Washington to discuss how to respond to the crisis. British Prime Minister Gordon Brown has called on China and oil-rich nations in the Middle East to pump trillions of dollars into an international
monetary fund bailout package.

Over the weekend, China announced a $586 billion stimulus package that focuses on the country's infrastructure, aid to the poor and farmers, and tax cuts for exporters.

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