omooc

The Differences Between Chinese and U.S. Economic Recoveries

As I read from Chinese-language newspapers, China's stimulus package is 6~7% of her GDP, where as USA's is about 2~3%. While China's package has already been put into practice (rural people have received cash coupons, building a petrochemical plant has started, and a transport system moving water from the interior to Beijing is ready to go, etc.), the USA's has barely escaped the filibuster; while the watered-down bill will be signed next Tuesday, only about 25% of the package will be used in this fiscal year. I also read that China is developing a 2nd package, worth about 4% of GDP. Yesterday, I read that the Universal Studio is planning a rec center in Beijing to rival Disney's in Shanghai and HK -- at a cost of 100 million rmb. I presume the pace in USA will pick up soon.