New Chinese leaders to boost growth: Kleinfeld
Nov 08, 2012 | 09:58 AM
| Andrea Hotter
Tags
Klaus Kleinfeld,
Alcoa,
China leadership,
leadership change,
growth,
Andrea Hotter
NEW YORK — China is set to push ahead with a vast infrastructure program that will boost economic growth as the country’s leadership change takes place, according to Klaus Kleinfeld, chairman and chief executive officer of Pittsburgh-based aluminum producer Alcoa Inc.
"The next injection will be infrastructure-driven, and the good news is that those projects are shovel-ready as the government stopped some of them when it was worried the economy would overheat," Kleinfeld said. "The reason they didn’t go for an infrastructure program earlier is that they were worried about inflation rates in China, which basically means consumer prices—including food—which tends to lead to unrest." ....
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