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09.26.11

Can China save the world again?

Posted in you've got mail at 9:38 am by nemo

http://www.theglobeandmail.com/report-on-business/international-news/can-china-save-the-world-again/article2178600/

Globe and Mail Report on Business Sep. 24, 2011
Can China save the world again?
Iain Marlow, Andy Hoffman and David Ebner
For those who once questioned the rising power and influence of China on the
world economic stage, the 2008 global financial crisis laid any doubts to
rest.

As stocks plunged, credit markets froze and major financial institutions
collapsed, economies around the world went into freefall. China was caught
in the storm too, as demand for its exports sank.


Infographic China’s economy losing steam

But the slowdown in China was exceedingly brief. In response to the
downturn, Beijing rolled out an enormous stimulus package worth four
trillion yuan or $570-billion (U.S.). China’s economy took flight almost
immediately as a slew of infrastructure projects including roads, rail and
buildings sparked bank lending and GDP growth.

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