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World Markets Rally, China to Double its Planned Stimulus
Stocks surged yesterday (Wednesday) after it was revealed that Chinese Premier Wen Jiabo would announce new stimulus measures on top of the $585 billion (4 trillion yuan) package introduced in November.
“This is just evidence of what we’ve been saying all along about China’s economy, the rest of the world is just finally catching on,” said Money Morning Investment Director Keith Fitz-Gerald. “While the rest of the world remains focused on band-aids, China remains focused on growth.”
Premier Wen is expected to make the announcement today (Thursday) when he appears at the opening session of the National People’s Congress.
“In Premier…
5Mar2009 | Money Morning | 0 comments | Continued
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