Hu: Economic downturn will test party leadership

Chinese President Hu Jintao on Saturday said the economic repercussions of the global financial crisis were threatening China’s competitive advantage in trade and that this would test the Communist Party leadership, Reuters reported. Hu made his blunt comments at a Politburo meeting that addressed the challenges created by falling export demand, and consequently a decline in job numbers. "Whether we can turn this pressure into momentum, turn challenges into opportunities, and maintain steady and relatively fast economic development … is a test of our party’s capacity to govern," Hu said. The president’s policy of a "scientific outlook of development" – in which the pursuit of growth at any cost is replaced by a more balanced and sustainable model – was discussed at the meeting. This policy has come under pressure as Beijing moves to preserve jobs.