China's Stimulus Plans

China's Premier Wen Jiabao announced that his government still has plenty of resources to help the economy if it is needed to recover from the current slow down. China has already approved over $500 billion to stimulate the economy and is ready to add more to try to boost growth in the country.

There were two very interesting points in this article that are worth mentioning. The first is China's investment in the U.S. and how important our recovery is to them. Mr. Wen was quoted in the article saying "I'd like to take this opportunity here to implore the United States... to honour its words, stay a credible nation and ensure the safety of Chinese assets." This shows how invested China is in the U.S. and how important it is to the rest of the world that we fix our economic situation as quickly and efficiently as possible.

The second important point of this article was that China is still expecting 8% growth in their economy this year, despite the slowdown and concerns about having to boost the economy again. This shows how resilient the Chinese economy has become and how confident the Chinese leaders are that they can continue to achieve these remarkable gains in times of worldwide recession.

http://news.bbc.co.uk/2/hi/asia-pacific/7941081.stm