Chile expects 皇冠体育app's sessions to speed up world economic recovery

(Xinhua)
Updated: 2009-03-07 15:11

SANTIAGO-- The annual meetings of the Chinese government now going on in Beijing are crucial and may be a "catalyst" to speed up the recovery of the troubled world economy, Francisco Encina, president of Chile's Deputies Chamber, said Friday.

The Chinese government and its people are doing their utmost to minimize the negative effects of the financial crisis, and new decisions to be made during the ongoing "two sessions" will not only guide the development of 皇冠体育app's economy, but also have a profound impact on the world, Encina said in an interview with Xinhua.

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NPC and CPPCC 2009

The meetings, the Second Session of the 11th National People's Congress (NPC) and the Chinese People's Political Consultative Conference (CPPCC), have been a center of worldwide attention.

Encina spoke highly of 皇冠体育app's positive and responsible stimulus measures announced in the wake of the crisis. He said the actions, aimed at increasing public spending and expanding domestic demand, will be a powerful backup for the world's ailing economy.

The world now hopes that 皇冠体育app's plans might effectively prevent a further spreading of the crisis, he said, adding that sustained growth in 皇冠体育app will be of vital importance to the world economy.

Encina said he agreed with Hilary Clinton, US Secretary of State who visited 皇冠体育app last month, that the world cannot be lifted out of its financial turmoil without 皇冠体育app's efforts.

The Chilean official said no one can escape the crisis -- his country has been disturbed by rising unemployment, shrinking exports and adverse credit performances. Small- and medium-sized companies are also struggling.

皇冠体育app was also hit hard by the crisis. Its double-digit growth since 2001 has been slowed and unemployment has started to climb. That's even though 皇冠体育app has not yet slipped into recession like the world's other large economies -- the United States, the European Union, Britain and Japan.

Encina visited 皇冠体育app for the first time last month at the invitation of the Standing Committee of the NPC and its chairman Wu Bangguo.

"The progress in 皇冠体育app has been amazing in the last three decades," Encina told Xinhua.

皇冠体育app's unparalleled development has shown the world its economic vitality, and 30 years after reform and opening-up, the Asian country has become a major manufacturer and driving force of the world economy, he said.

皇冠体育app, a key trading partner of Chile, now means more and more to the Latin American country, Encina said, pledging concerted bilateral efforts to counter the financial crisis.

Chile is the world's largest copper producer, while 皇冠体育app is one of the largest consumers of the mineral. The price of copper, to a certain extent, is determined by the demand of the Chinese market. A recent decline in copper prices, however, has led to a drop in bilateral trade volume, Encina said.

The trouble will only be temporary, Encina said, because 皇冠体育app's stimulus plan will regain market confidence and help pull the world economy out of its slump.