Global Economic Situation

Part of Oral Answers to Questions — Treasury – in the House of Commons at 10:30 am on 12th February 2009.

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Photo of Stephen Timms Stephen Timms Financial Secretary (HM Treasury) (also in the Department for Business, Innovation and Skills) 10:30 am, 12th February 2009

Yes, that certainly was discussed. My hon. Friend knows China extremely well, so he will know that it recently became the world's third largest economy. It is going to be one of the fastest growing this year, but it has been deeply affected by the crisis, and some 20 million migrant workers have returned home after losing their jobs on the east coast. I was in China last month for the G20 preparations and I discussed with officials and others in Beijing what was happening in the Chinese economy. I can say to my hon. Friend that China will be a key participant at the London summit—committed, with others, to a successful outcome, which is so important for China as it is for the rest of the world.

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