Looks like China preparing for inflation
While the US is preparing to inflate, while deflating income, leaving it’s people out in the cold, Chinas going the other way.
Inflation fighting measures ordered for China
The US News
Monday 22nd November, 2010
China has announced more measures to reduce inflation by pulling in rising commodity prices.
Rapidly rising inflation in the country has caused concern to China’s government, with Cabinet ministers deciding on the weekend to order local governments to boost agricultural production, stabilise supplies and reduce prices.
Xinhua has reported the government released a document also instructing local officials to ensure oil, gas, coal and power supplies were sufficient.
The official press agency also said there were orders issued for local councils to coordinate social-security programmes to provide a gradual rise in basic pensions, unemployment insurance and minimum wages.
Consumer prices have risen at the fastest pace in China in two years, fuelled by soaring food costs.
The nation’s consumer price index rose 4.4 percent year-on-year in October.
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