China has announced a $ 586 Billion stimulus package which will target a "wide array of national infrastructure and social welfare projects, including constructing new railways, subways, airports and rebuilding communities devastated by an earthquake in southwest China in May." as per this article ... link
In the face of the current economic crisis, looks like the Chinese govt is trying to stimulate economic growth at home and trying to move away from an export driven economy ....
To me it seems the right step to take from a Chinese point of view ... they do have huge forex reserves (~ $ 1.9 Trillion) ...
Wonder if the Indian Govt will also try something like this ... and more importantly do we have the resources ??
In the face of the current economic crisis, looks like the Chinese govt is trying to stimulate economic growth at home and trying to move away from an export driven economy ....
To me it seems the right step to take from a Chinese point of view ... they do have huge forex reserves (~ $ 1.9 Trillion) ...
Wonder if the Indian Govt will also try something like this ... and more importantly do we have the resources ??
Comment