Author: Xiao Qiang

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Chinese Provinces Propose $1.4 Trillion Stimulus

Joe McDonald reports for the Associated Press: Provincial Chinese governments have proposed more than $1 trillion in spending on roads and other projects on the heels of a massive national stimulus package designed to shield China from a global slowdown, state TV reported Sunday. The central government’s announcement of a 4 trillion yuan ($586 billion) stimulus earlier

November 23, 2008

Why Beijing Is in a Risky Place

George Wehrfritz reports in NewsWeek: Workers are losing factory jobs at the fastest rate in decades. Automakers—having failed to anticipate today’s sales slump—are lobbying politicians for bailouts. The stock market is a crash heap, home prices are down by 35 percent or more in many cities and toxic assets have begun to weigh heavily on banks. America in 2008? Try China,

November 23, 2008