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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 | ContinuedEconomist: China Stimulus Could Double in Three Years
China’s already steep $585 billion (4 trillion yuan) stimulus could double over the next three years to as much as $1.2 trillion (8 trillion yuan), a figure that would put the country’s economic growth back on track, an economist said at a Beijing summit.
Mingchun Sun, chief China economist for Nomura International PLC, said the Chinese government could formally announce the bigger spending plan in March or April.
Since the original stimulus proposal was announced, state and local governments unleashed a long list of projects previously held back because of initial concerns of keeping growth from getting out of control, Sun…
26Feb2009 | Money Morning | 0 comments | ContinuedChina announces more stimulus
The nation’s economic stimulus measures will go beyond the announced 4-trillion-yuan package as more industry-specific policies are rolled out, Premier Wen Jiabao said on Friday.
The government is refining and augmenting the package, because it was "rather preliminary" when announced on Nov 9, he said.
According to the central economic work conference held last month, rural consumption and spending on housing, cars, services and tourism would be the focus of efforts to boost domestic consumption.
My comment: With China spending more money in China that will not allow for investment in US Treasury securities. The lower trade surplus with the US…
5Jan2009 | The Real Deal | 0 comments | ContinuedThe Chinese Bailout: 5 Ways to Profit From China’s $585 Billion Stimulus Plan
The $585 billion bailout package that China announced Sunday may or may not help China’s economy. But with investments in low-income housing, water and energy projects, airports, disaster relief – and $100 billion for new railroads – over the next two years, this financial package provides oodles of opportunities for investors.
There is no doubt China needs infrastructure. Now the world’s fourth-largest economy, China has grown so rapidly that many of its services are stretched beyond belief. Equally, it is not so certain that the government knows what infrastructure to build, or if it can be built, without hopeless corruption.
For instance,…
18Nov2008 | Investment U | Comments Off | ContinuedChina Begins $585 Billion Renovation
by Guy Bennett
President, Q1 Publishing
The global recession has hit China in a big way. Over 67,000 factories have closed in the last three months. An estimated 50 million Chinese workers are now unemployed, according to the usually overly positive government estimates. Protests or “mass incidents” are springing up all over the country.
The official Chinese GDP growth rate plummeted 30% in the last quarter. Independent data coming out of the manufacturing sector, however, suggests a much sharper decline. Chinese stocks have surging up and down, just as they have in the U.S. There are ways to profit from this global market…
13Nov2008 | Q1 Publishing | Comments Off | Continued
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