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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 | ContinuedEver Shop in a China Bull?
Just what in the world are those Chinese up to?
You can’t turn your head these days without someone commenting on, analyzing, besmirching or otherwise gabbing about the Chinese. And with good reason. The Chinese economy is now the “scale-tipper” in the battle to reflate the world economy. Whither China, whither the rest of us.
They’re not a friendly lot, though, the Chinese. Not much concern for workers’ rights or the environment. And absolutely single-minded in their desire to consolidate power and acquire territory they believe is rightfully theirs.
They certainly relish the prospect of becoming the next great global economic and military…
17Dec2008 | Oxbury Research | 0 comments | 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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