Fiscally nuts. Socially insane.

Sunday, November 9, 2008

$586 Billion Spending Package in China

China announces a huge government spending package:

China's official Xinhua news agency said the world's fourth-largest economy approved a 4 trillion yuan ($586 billion) government spending package between now and 2010, focused largely on infrastructure projects.

It's not nearly enough if they're looking for any real effect, which I assume they are. The cities are terrible, infrastructure and transportation is falling apart, it's a mess. They need a lot more than $586 billion.

No comments: