[lbo-talk] Asiazilla to the Rescue

[dredmond at efn.org]

China plans to spend $570 billion over two years, directed mostly at
urgently-needed internal infrastructure and boosting rural incomes:

http://english.peopledaily.com.cn/90001/90776/90884/6530098.html

That's about $235 billion per year, or 7% of China's $3.4 trillion
economy. This is an unprecedented step for China, the beginning of a
long-term shift away from its role as an export-dependent semi-periphery
and towards becoming a high-tech core economy.

This is good news for China's East Asian and SE Asian neighbors, who
depend on Chinese consumers, but there's also an important ice-breaker
effect -- it makes it easier for the EU and US to launch serious stimulus
packages of their own.

-- DRR