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China will be badly hit by US recession: Wen


Fareed Zakaria,CNN
Aug 24, 2009 at 10:03pm IST

New Delhi: The Chinese economy will be badly hit by the US recession says Chinese Premier Wen Jiabao. In an exclusive interview to CNN's Farid Zakaria, Wen Jiabao said that it is in Washington's interest to ensure the stability of China's financial sector.

"A shrinking of US demand will certainly have an impact on China's export and US finance is closely connected with the Chinese finance. If anything goes wrong in the US financial sector, then we become anxious about the safety and security of Chinese capital," the Chinese Premier said.

"I have made it clear that the financial problems in this country not only concerns the interest of the United States, but also that of China and the world at large," Jiabao added.

GLOBAL ISSUE: Wen Jiabao says shrinking of US demand will have an impact on China's export.

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