Monday, Mar 09, 2009
Ignore the dreadlines - China really is decoupling
Telegraph: China's stimulus package looks like it's stimulating
"Official data suggest that the 4 trillion yuan ($585bn) spending programme being pumped through the economy is already putting some juice back into China's industrial sector. New orders to the industrial sector rose in January, driven by heavy industry. Growth in bank loans has also shot up. Both look like early signs that the stimulus is stimulating. China can afford more later, if need be. The package so far will leave a fiscal deficit of under 3pc of GDP - high for China, but frugal by today's international standards. Premier Wen Jiabao has one goal - to keep Chinese living standards increasing. Spend the 4 trillion yuan well, and the rest of the economy will stimulate itself."
Posted by drewster @ 02:07 AM (291 views) Add Comment
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