CHINA

Premier Sets Modest Growth Target of 9%: Li Peng has set the cautious target for 1994, declaring that stability cannot be sacrificed for short-term economic gains. Rising inflation, economic bottlenecks and a flood of corruption washing across the country could undermine China’s achievements and tip the country into turmoil, Li said. He said the 9% target for gross domestic product growth this year represents a reasonable slowing from the 13.4% China recorded in 1993 and should prove to be a sustainable pace for several years. Inflation must be held below 10% and new investment strictly controlled to prevent another sudden expansion of credit, Li said.