China Predicts a Strong Year (And We Need It to Be)

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As reported by the AP in Beijing, “China’s Premier Wen Jiabao promised strong growth this year and said the government will combat inflation and risks to banks to keep the rebound in the world's third-largest economy on track.”

The Premier reportedly said that his government will work to control inflation and other issues raised by his nation’s 4 trillion yuan ($586 billion) recovery package and massive bank lending.

Why should we care, you wonder? “Any hiccup in China's recovery could have global repercussions if it erodes the country's demand for U.S. and European factory equipment or imported iron ore and other raw materials from Australia, Brazil and other countries.”

Oh. Right. Please, keep buying our heavy factory equipment, iron ore and other American treasures (not to mention our debt), and we’ll keep buying stuff at Wal-Mart (Stock Quote: WMT), all of which you make. Deal?

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