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The Global Challenge: Recession to Recovery (China) #939216

CBS Evening News for Thursday, Apr 02, 2009
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(London: Katie Couric) President Obama shown with Chinese President Hu Jintao at the G-20 summit in London; list of the top banks with 3 being Chinese shown.

(Beijing: Barry Petersen) China’s growing economy featured; details given about its loans to the US; China’s gross domestic product vs. the US and statistics on Chinese unemployment cited. [Euro Pacific Capital president Peter SCHIFF†- says we’ve been borrowing to live beyond our means and now we can’t pay the bills.] [March 13, Chinese Prime Minister WEN Jiabao† {thru reporter's translation} – requests the US to maintain its good credit.] [Chinese economy expert Arthur KROEBER†- predicts China will be one of the 2 major economies in the world.] [Chinese economy specialist Victor GAO†- says this is hope we can prevent a global recession from plunging into depression.]

Reporter(s):
Couric, Katie;
Petersen, Barry
Duration:
00:02:50

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