From: www.newsday.com
May 13, 2008 20:58 Beijing Time
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GENEVA - China must address a widening gap between its rich and poor if Beijing wants a "harmonious society," the World Trade Organization will report in a trade review of the Asian nation, according to a copy obtained Tuesday by The Associated Press.The global commerce body also urges China to increase spending on health, education and pensions so that people rely less on savings and consume more in the report. This would "reduce China's reliance on exports for growth, and hence its vulnerability to economic slowdowns abroad," it says."China needs to continue to address a number of important social and economic challenges, including various economic imbalances, which could jeopardize the economy's stability and thus the achievement of a 'harmonious society,'" says the 193-page report, which will be made public later this month.The WTO praised Beijing's "structural reform strategy" for helping the country become the third-largest economy and trading power in the world, with GDP rising ...

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