Tuesday, October 20, 2009

View on China

China is a crucial component to the world economy. So, I always find it interesting to read about China, its political and economical direction. Newsweek published this article on China entitled "Everything You Know About China Is Wrong".

In a nutshell, the article states: Chinese government debt, once negligible, is now officially about 30 percent of GDP. High for China, low in comparison to US. The state sector controls half the total economy, and with the current stimulus package of $600 billion it is expected that the state sector actually grows in comparison to the private sector. Politicians are going green. The green stimulus package amounts to $218 billion, the largest in the world! China is still a massive polluter but it is also the biggest producer of renewable energy.

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