devilhunterred
Prince
- Joined
- Aug 11, 2006
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China, which has the world's third-biggest economy, is weathering the global slowdown better than many nations because its banks were largely unscathed by the financial crisis.
"The government's stimulus is working," said Louis Kuijs, a senior economist at the World Bank in Beijing. "China's fundamentals are strong enough to ride out this storm."
China is 'strong enough' to ride out recession's storm with 437bn plan. Independent. ie Business. 23 Mar. 2009. <http://www.independent.ie/business/world/china-is-strong-enough-to-ride-out-recessions-storm-with-8364437bn-plan-1677924.html>.
"I think China will come out of this a lot quicker and a lot stronger than people suspect," Mr. Smith (Chief executive of Newcrest Mining Ltd.) told a business lunch on Wednesday.
"There's a driving social imperative in China, and as we all know they can mobilise very quickly when they want."
China will be back stronger: Newcrest. 9MSN News Finance. 23 Mar. 2009. <http://news.ninemsn.com.au/article.aspx?id=787970>.
China's stimulus spending will help its economy overcome the global recession sooner than the US and other countries, investor Jim Rogers said.
"I certainly expect China to come out of it sooner than the US," Rogers, chairman of Singapore-based Rogers Holdings, said in an interview. "They seem to be spending the money on the right things. China is doing a far better job than the others."
"I plan later this year to get out of the rest of my US dollars," he said. "It's had an artificial rally too but it's a terribly flawed currency. The US is printing money as fast as it can and that's always throughout history led to currency problems down the road."
Rogers on June 30 advised investors to avoid the dollar "at all costs" as the US economy slows. He reiterated the stand yesterday and said it's difficult to make money on the dollar unless the investor is actively trading the currency.
Rogers: China to overcome recession first. China Daily Business. 23 Mar. 2009. <http://www.chinadaily.com.cn/cndy/2009-03/10/content_7558045.htm>.
Even so, China does have a number of advantages over the UK and the US.
It has a banking system that is a long way from bust and has the capacity to lend substantial sums to cash strapped businesses.
Also China's public finances are pretty healthy, so the Chinese government can splash out on rail links and bridges and other big projects that create substantial employment and income for suppliers.
In other words, China's government has probably warded off the kind of severe slump that is afflicting so many other economies and it may be able to continue to do so.
And I suppose what struck me was that Wen Jiabao, prime minister of this one-party state, was possibly more alive to the problems ahead than his opposite numbers in many entrenched democracies.
While I was in Beijing he gave a characteristically epic speech to the National People's Congress. Two hours of densely argued economic analysis presented to 3,000 delegates.
Even if in terms of delivery it was something of a soporific, its account of how to fix China's economic and social woes was more cogent, sophisticated and even - perhaps - more honest than what you will hear from most mainstream Western politicians.
Peston, Robert. Testing times for Chinas economy. BBC World News. 23 Mar. 2009. <http://news.bbc.co.uk/2/hi/programmes/from_our_own_correspondent/7937773.stm>.
There is no questioning how severe the recession is hitting the Chinese exports, affecting employment rate and especially the rural countryside as the masses of immigrant workers are incapable of sending checks back home. However leading economists around the world mostly agree that China also has the most potential of coming out of the recession earlier than everybody else due to its relatively intact domestic market, strong banking system, its heaps load of money in the reserves and its massive holdings of foriegn assests. Prime minister Wen Jiabao's economic policies are not too shabby either.
Back in late 2008, much of the world was looking to China to lead them out of the upcoming 2009 recession. If China can come out of the recession first, there's a big chance this may come true or in the very least offset a large portion of negative effects on the rest of the world.
"The government's stimulus is working," said Louis Kuijs, a senior economist at the World Bank in Beijing. "China's fundamentals are strong enough to ride out this storm."
China is 'strong enough' to ride out recession's storm with 437bn plan. Independent. ie Business. 23 Mar. 2009. <http://www.independent.ie/business/world/china-is-strong-enough-to-ride-out-recessions-storm-with-8364437bn-plan-1677924.html>.
"I think China will come out of this a lot quicker and a lot stronger than people suspect," Mr. Smith (Chief executive of Newcrest Mining Ltd.) told a business lunch on Wednesday.
"There's a driving social imperative in China, and as we all know they can mobilise very quickly when they want."
China will be back stronger: Newcrest. 9MSN News Finance. 23 Mar. 2009. <http://news.ninemsn.com.au/article.aspx?id=787970>.
China's stimulus spending will help its economy overcome the global recession sooner than the US and other countries, investor Jim Rogers said.
"I certainly expect China to come out of it sooner than the US," Rogers, chairman of Singapore-based Rogers Holdings, said in an interview. "They seem to be spending the money on the right things. China is doing a far better job than the others."
"I plan later this year to get out of the rest of my US dollars," he said. "It's had an artificial rally too but it's a terribly flawed currency. The US is printing money as fast as it can and that's always throughout history led to currency problems down the road."
Rogers on June 30 advised investors to avoid the dollar "at all costs" as the US economy slows. He reiterated the stand yesterday and said it's difficult to make money on the dollar unless the investor is actively trading the currency.
Rogers: China to overcome recession first. China Daily Business. 23 Mar. 2009. <http://www.chinadaily.com.cn/cndy/2009-03/10/content_7558045.htm>.
Even so, China does have a number of advantages over the UK and the US.
It has a banking system that is a long way from bust and has the capacity to lend substantial sums to cash strapped businesses.
Also China's public finances are pretty healthy, so the Chinese government can splash out on rail links and bridges and other big projects that create substantial employment and income for suppliers.
In other words, China's government has probably warded off the kind of severe slump that is afflicting so many other economies and it may be able to continue to do so.
And I suppose what struck me was that Wen Jiabao, prime minister of this one-party state, was possibly more alive to the problems ahead than his opposite numbers in many entrenched democracies.
While I was in Beijing he gave a characteristically epic speech to the National People's Congress. Two hours of densely argued economic analysis presented to 3,000 delegates.
Even if in terms of delivery it was something of a soporific, its account of how to fix China's economic and social woes was more cogent, sophisticated and even - perhaps - more honest than what you will hear from most mainstream Western politicians.
Peston, Robert. Testing times for Chinas economy. BBC World News. 23 Mar. 2009. <http://news.bbc.co.uk/2/hi/programmes/from_our_own_correspondent/7937773.stm>.
There is no questioning how severe the recession is hitting the Chinese exports, affecting employment rate and especially the rural countryside as the masses of immigrant workers are incapable of sending checks back home. However leading economists around the world mostly agree that China also has the most potential of coming out of the recession earlier than everybody else due to its relatively intact domestic market, strong banking system, its heaps load of money in the reserves and its massive holdings of foriegn assests. Prime minister Wen Jiabao's economic policies are not too shabby either.
Back in late 2008, much of the world was looking to China to lead them out of the upcoming 2009 recession. If China can come out of the recession first, there's a big chance this may come true or in the very least offset a large portion of negative effects on the rest of the world.