China Launches Massive Economic Stimulus Program - ENR | McGraw-Hill Construction

Description:
China’s central government announced a plan to ease borrowing, cut taxes and expedite infrastructure spending through a plan which, if it materializes, will be much bigger than anything yet contemplated in the U.S. According to Xinhua, the Chinese news agency, the program is a “shift long advocated by analysts of the Chinese economy” and “comes amid indications” of slowing growth and exports. The program, which has a two-year price tag of about $570 billion, includes roads, water, environmental improvements and earthquake reconstruction. Economist C. Fred Bergsten, a China expert, described the contemplated U.S. infrastructure stimulus ideas as “peanuts by comparison” but added that what helps China will ...

SUBSCRIBER LOGIN User Name: Password: Forgot your password?

Monthly Subscription: Access all articles published on ENR.com for only $9.95/Month. Annual Subscription: Get ENR magazine for one year and access to all articles published on ENR.com, along with ENR daily news alerts and weekly newsletters for only $82/Year.