Beijing Massage Parlors: China Will Continue to Drive the Global Economic Recovery in 2010
Indeed, Beijing’s massive $586 billion stimulus program and more than $1 trillion in new lending have helped China overcome a drop in exports and strengthen its domestic market while the rest of the world has struggled. And going forward that strategy will continue to pay off.
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Now that Beijing’s policymakers have achieved the level of economic growth they sought at the year’s outset, the central government it’s starting to wean the country off of state support. But that doesn’t mean the lending spigot will be shut off.
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Beijing will spend more than $400 billion on infrastructure by the end of 2010, and lots of that will go to building rail lines, including a $17.6 billion passenger rail line across the deserts of northwest China, a $22 billion web of freight rail lines in the Shanxi province and a $24 billion high-speed passenger rail line from Beijing to Guangzhou.
See the full article from “Money Morning”