China has planed to tackle the global financial crisis through 4-trillion-yuan economic stimulus package. Here are other countries’ methods to deal with the crisis:
United States: The global crisis was brought about by the housing market collapse of this country which has earmarked $700 billion for bank funding. It is expected that Barack Obama would spend hundreds of billions of dollars more in a fiscal stimulus package once he assumes office next year.
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China Business, China Business News, China Consumer Market, China Economy, China Finance and Banking
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US Treasury Secretary Henry Paulson has praised China for its “constructive” role in coping with the global financial crisis and said Beijing will continue to be “an important engine” for the world economy. He mentioned on Tuesday that the important role of China to support the world economy should be recognized by the next US president and the world is depending on more contributions from China. However, many economists have cautioned China in purchasing overseas financial assets because of their uncertainty.
Besides quoted Wen Jiabao’s earlier statement of China’s role in dealing with global financial crisis during the annual meeting of the US-China Relations National Committee in New York, Paulson also stressed the importance of closer international relationship as the financial crisis continues spreading its impact. Read more…
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China Business, China Economy
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