View Full Version : China Announces Massive Stimulus Package

mick silver
10th November 2008, 12:17
Ever since it reported sharply slower economic growth in the third quarter (9% vs. 10.4% for the first half) China's top officials have been signaling that an economic stimulus package was coming to boost domestic demand and that the tight monetary policy imposed earlier this year would be eased.

Today, China's media announced that the State Council, the country's highest decision-making group, had approved at a meeting on Wednesday a package of capital spending plus income and consumption support measures. This confirms that damping down inflation in a runaway economy is no longer the policy priority. The top economic concern is now arresting the rapid slowdown in growth as a result of the slumps in China's exports in the wake of the global financial crisis (see: " Cold Christmas For China's Manufacturers" and " Economic View From Shenzhen").

Four trillion yuan ($586 billion) will be spent on upgrading infrastructure, particularly roads, railways, airports and the power grid; on raising rural incomes via land reform; and on social welfare projects such as affordable housing and environmental protection

mick silver
10th November 2008, 12:20
This IS HOW YOU SPENT YOUR MONEY , they well get a lot out of the money they are spenting in china , roads , airports , power grid , this should be what we are doing , but no let bailout wallstreet and big banks , i call this bs