Can Chinese Government Spending Avert Recession?
The article reports on whether the Chinese government spending can avert recession in China. If China grows at 8 or 9 percent, as the central bank governor Zhou Xiaochuan says it will, then China will contribute more than half of total global growth in 2009 year when measured at market exchange rates. Local businessman Shou Minghuan says the Government is foolish to suggest shifting from exports to domestic customers, even if China’s domestic consumers had money to spend.
