China unviels $862 billion stimulus package
Source: http://blogs.moneyandmarkets.com/blog/china-and-asia-stock-alert/0/0/china-unviels-862-billion-stimulus-packagePosted on Sunday, November 9th, 2008 | In Asia
China’s State Council approved a massive $862 billion stimulus
package of capital spending and measure to boost consumer spending.
Massive infrastructure spending on roads,
railways, airports and the power grid
Land reform for rural farmers to
increase incomes
Social welfare projects such as
affordable housing and environmental protection.
Increase in bank lending limits
Reduction of the value added tax
To put this amount into perspective,
it dwarfs the $100 billion we spent on last summer’s tax rebates.
China’s stimulus package amounts to nearly 15% of annual economic
output spread over barely two years. Another yardstick of its scale: In the
Asian financial crisis of 1998, China
responded with a package worth just 1.2% of gross domestic product.
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Asia, bank lending, China, China's State Council;, Gross Domestic Product, massive infrastructure;, USD
 About Tony Sagami (http://blogs.moneyandmarkets.com/blog/china-and-asia-stock-alert)
Tony Sagami, a veteran investment advisor and a leading expert on Asian markets, is the owner and founder of Harvest Advisors, an investment research and money management company. Mr. Sagami has been managing money for more than 20 years and is one of the early pioneers in the application of technical and quantitative analysis to mutual funds and stocks. He is a featured contributor to Weiss Research’s daily e-letter, Money and Markets and monthly Safe Money Report as well as the editor of Asia Stock Alert. Prior to establishing his own firm, Mr. Sagami was managing director at W.E. Donoghue & Co, serving additionally as the director of investment. During his successful career, he also held the position of account executive at Merrill Lynch. Mr. Sagami’s views on Asian markets, specifically Chinese investments, have been featured in publications such as The Wall Street Journal, Barron’s, Kiplinger’s, Smart Money, Business Week, New York Times, Washington Post, Investors Business Daily, Bloomberg, Financial Planning Times, Mutual FundsMagazine, Chicago Tribune, and the LA Times, as well as on CNBC and CNBC Asia. Mr. Sagami holds a degree in economics from the University of Washington. |
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