Evidence of depression in China – communist regime announces a whopping $570 billion stimulus package
Saroj Rastogi
Nov. 9, 2008

Chinese economy is in deep slide. The steel and copper prices show that clearly. Now the real confirmation came from the Government of China.

China today announced a whopping $570 billion stimulus package to boost domestic demand and a slew of macro-economic measures to ease credit crunch to offset the adverse impact on its economy from the global economic crisis.

During the first three quarters this year, China's GDP growth slowed to 9.9 per cent, down 2.3 per cent from the same period last year and falling to single digit for the first time in five years due to the impact of the global economic crisis.

China reports GDP from export zones only. The real GDP growth of the country measured in western standard is below 2%. The current down turn has pushed China’s actual GDP growth below 2%. The communist regime is concerned. The failing Government undertakings lay off close to 25 million workers that China funnels into export oriented industries that provide goods to US and European markets.

Evidence of depression in China – communist regime announces a whopping $570 billion stimulus package
Saroj Rastogi
Chinese economy is in deep slide. The steel and copper prices show...
READ MORE>>

America does not have a choice other than nationalizing auto industry – Detroit and Wall street lead the charge in the transformation of America into socialism
Prithiv Nandi
Bush and McCain called Obama a socialist.
READ MORE>>

What happens to essential commodities as economic depression worsens into a catastrophe?
Sam Adelton
The essential commodities have seen their sharpest fall in the last 400 years.
READ MORE>>

What happens to Gold as economic depression worsens into a catastrophe?
Marla Guthrie
Gold has stabilized in low 700s. But the economy is accelerating downward...
READ MORE>>

US Economy is in deep depression and accelerating downwards –Obama can do little to stop the total collapse
Peter Oberois
It is bad out there. People are losing jobs, families, and their homes before they can even...
READ MORE>>

G-20 ready to cut rates aggressively but very few nations believe a multi-decade worldwide depression can be avoided
Joe Weinman
Canada's Central Bank joined the Fed, the European Central Bank...
READ MORE>>

A tough time for the rich to preserve their assets as deflation takes over the economies of the world
Fred Day
Deflation is in the air. It is making marks in every continent.
READ MORE>>

MORE ARTICLES >>