The IMF slashed its forecast to 2.7 per cent from an estimate of 4.9 per cent made only two months ago. The move came as both Australia and Japan announced new measures to sustain their flagging economies. - FT
i noticed before this whole recession thing happen that when people referred to china some would call them our future lords and masters. it was assumed that china owned us through our tremendous debt to them and one day they would simply pull the plug on us. its not happening, only in some instance of war or conflict involving japan or taiwan could this happen. wen jiabao went around europe last week crusading for chinese business, but its nothing without america.
china has even went public as far as sharing its hope that the us does not enact any sort of protectionist policy that would further stunt the demand for chinese exports. what china can do with its stimulus package and has stated it will do is work on its infrastructure. chinas countryside needs help, millions of people are losing their big city jobs and are simply stuck twiddling their thumbs. this is bound to lead to civil unrest and god knows what else, and i bet china is fully aware of this. i wouldnt be suprised to see china create jobs for these people and this will and should be chinas main priority not the slow destruction/manipulation of the western world. bring that shit back up in like 2020 until then just shut the fuck up
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