China’s premier, Li Keqiang, says the Beijing government will not order the printing of money in an attempt to counter a growing slowdown of the country’s economy. Li said this year’s anticipated growth rate in the gross domestic product of under 7.5% is acceptable so long as jobs are not seriously affected. There has been speculation that, faced with the weakest growth in five years, Beijing might repeat its response to the 2008 global recession, when it launched a $645 billion stimulus package, but this produced severe overcapacity from which the country is still suffering.
