I keep a weblog like it's still the 90s. For commentary and dissent please visit jontaylor.ca, or various other purveyors of thought online.

Saturday, October 17, 2009

China: The Recession's Real Winner

China: The Recession's Real Winner | Newsweek Voices - Fareed Zakaria | Newsweek.com: "China entered the crisis in an entirely different position. It was running a budget surplus and had been raising interest rates to tamp down excessive growth. Its banks had been reining in consumer spending and excessive credit. So when the crisis hit, the Chinese government could adopt textbook policies to jump-start growth. It could lower interest rates, raise government spending, ease up on credit, and encourage consumers to start spending. Having been disciplined during the fat years, Beijing could now ease up during the lean ones."

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