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News China's New Deal: will Canadians benefit from China's RMB 14 trillion stimulus package?
China's New Deal: will Canadians benefit from China's RMB 14 trillion stimulus package?
The impact of the global financial crisis on China continues to accelerate. China unveiled a RMB 4 trillion (C$684 billion) stimulus package Nov. 9 aimed at boosting China's domestic economy. This represents 13.4% of China's estimated 2008 GDP. Less than two weeks later, China leaped back with an added RMB 10 trillion in stimulus spending to shore up the national GDP target of 8% -- the magic number considered necessary to keep China out of trouble......
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