China announces a freeze in fuel and power prices to control inflation.

Discussion in 'Economics' started by ASusilovic, Jan 10, 2008.

  1. China took steps Wednesday to freeze regulated prices of energy and other utilities, in a bid to combat inflation exacerbated by soaring global crude oil prices.
    "Prices of gasoline, natural gas and electricity shall not be adjusted in the near future, and charges for gas, water, heating and public transport in cities shall not be raised," the Chinese government said in a statement. See Chinese government Web site

    http://english.gov.cn/2008-01/09/content_853969.htm

    The government also called for stabilizing prices on medical services and agricultural fertilizers.
    The directive was released after a State Council executive meeting presided over by Premier Wen Jiabao.

    http://www.marketwatch.com/news/sto...x?guid={512C2D1E-97AF-4D06-8233-E5A645CF8171}
     
  2. I wonder what Jim Rogers thinks of that :p
     
  3. Suss----those $150 thru $200 crude oil calls might go in-the-money for you sooner rather than later!
     
  4. HUGE HUGE mistake by the chinese Gov.
     
  5. :p