China announces 'Radical' Stimulus Package with $586 billion on infrastructure (Nov 10)

BEIJING - China's massive stimulus package is its "biggest contribution to the world," Premier Wen Jiabao said Monday, as hopes rose that heavy spending on construction and other projects would help support global growth by fueling demand for imported machinery and raw materials. With Sunday's announcement of the 4 trillion yuan ($586 billion) package, China staked out a bold position as President Hu Jintao prepared for next weekend's Washington meeting of leaders of 20 major economies to discuss a response to the global financial crisis.
For more reading: http://www.msnbc.msn.com/id/27624897/; http://english.cri.cn/3130/2008/11/06/168s421543.htm


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