World Bank Head Praises China’s Economic Steps

President of the , who is in Beijing for three days to meet with Chinese leaders, commended the country for having taken the appropriate steps to stabilize its economy in light of the deepening global financial crisis. From VOA:

Zoellick … says China has been helping the world by helping itself.

“I think the best way China can help support the world economy this time is through the efforts China has taken to strengthen its own growth and recovery,” Zoellick said.

China last month announced a nearly $600 billion stimulus program that will be spent on infrastructure, tax cuts, subsidies for consumers in rural areas and social security programs.

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