11/11/2008 11:30:24 am
Now That Is a Stimulus Package. I just arrived in Brussels, mainly to do four speeches on free-market reforms after the financial crisis - in two days. I just read about the stimulus package launched by the Chinese government. Apparently, they think a growth rate at 9 per cent is far too low. The total amount in the package is equivalent to 20 % of China′s GDP. The US package was 5 % of US GDP. Apparently, China will direct their stimuls towards infrastructure and the countryside that has so far largely not enjoyed the economic boom.