On Sun, Nov 9, 2008 at 10:43 PM, <dredmond at efn.org> wrote:
> 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
>
> ___________________________________
> http://mailman.lbo-talk.org/mailman/listinfo/lbo-talk
>
-- peace,
boddi
http://financialroadtosocialism.blogspot.com/