China’s Stimulus Package: Not What It Appears to Be
Derek Scissors, a research fellow for Asia economic policy at The Heritage Foundation’s Asian Studies Center, explains China’s stimulus package.
http://www.heritage.org/Research/AsiaandthePacific/wm2128.cfm
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well, compare to the true now, he is a liar. and still, I dont think there s any problem with saving money.
I like the public relations exercise thing. Please your own people and please the world. Of course, doing that without reducing trade surplus and huge foreign reserves.
Those jobless factory workers would really suffer. But that was US' fault and the Chinese, if they were subsidizing exports.
Hopefully, the fact that Chinese do quite a lot of saving will help soften the depression.
In general, I think China will be in better condition than the US.
There's nothing ridiculous about it, the Chinese economy is driven by exports which are subsidized by the government, now is the time for China to dig into their huge savings. It could really help stimulate the global economy, they have 2 trillion in foreign reserves they can't spend at home, they might as well go on a shopping spree in the west and buy anything they want (besides gov't bonds). Plus everything is discounted in the US right now so in the long run it is a good return for China.
i'd like to ammend that point.. every INDIVIDUAL is out to do whats best for itself. there is no reason i would give up my trade surplus either.. not yet, anyway.. not until i have enough. =P
the gov needs to stay out of every trade sector.
Ahh, credit the market of human trade.
Who owns you? MASTERcard? Discover? a mortgage lender that may sell you off to another lender next month? Student loans? Payday lenders? Or do you own yourself?
Being debt free, I can say that I own myself as much as it is possible in this society. Hopefully there are a lot of people that can say the same.
Anyway, you can squeeze nothing from this Derek's words but sour.
China's stimulus plan is for its own good. That is for all and that is enough.
Research fellow? I doubt that.
What should china import? Shoes and socks? China makes them at the lowest cost. Planes? China has bought plenty of them.
What China want to buy and what the west can sell are high-techs. But unfortunately the west is just stupid enough not to decide to sell them to "communist" China.
Anyway, China is going to develop those high-techs. It just takes some time. And to that day the west will indeed have nothing to sell to China.
The best story Ive heard yet is a bank, I think called AmEx or something like that. It opened 2 weeks after $700 billion allotment and then immmediately applied for 'relief' money!!
Why cant I be smart enough to try things like that ?!?
That is because they aren't idiots.