Sunday, March 14, 2010

China's Premier Says World Might Face `Double Dip' Recession

China's premier says the world might face a "double dip" recession due to continued high unemployment and risks in financial systems.

Premier Wen Jiabao made the comments Sunday following the close of China's annual legislative session, reports AP.

The fact that he is saying this after the annual legislative session suggests to me that China has given it's central bank the authority to print more new money.

China may be very near a serious bout of price inflation.