Much of the world seems to be going this way.
Enough fiscal will turn this around.
China’s Hu Calls for Efforts to Increase Demand, Xinhua Says
By Wang Ying
Nov. 1 (Bloomberg) — Chinese President Hu Jintao said the government needs to continue efforts to boost domestic demand to bolster financial stability and counter the impact of the global credit crisis, the state-run Xinhua News Agency reported.
The authorities will continue to consolidate the “foundational position” of agriculture and to deepen economic reforms and openness, Hu was quoted as saying. Hu spoke during a visit to the northwestern province of Shaanxi between Oct. 28 and Oct. 29, according to the report late yesterday.
China’s economy, the world’s fourth largest, expanded in the third quarter by 9 percent from a year earlier, the slowest pace since 2003. The government lowered interest rates three times in the past two months, increased export rebates and cut property transaction taxes.
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China builds cruise ship terminal behind a bridge that is too small for most of the world’s cruise ships to pass under!! What a lack of foresight!! They need to SLOW DOWN, not speed up – look at all this sillyness going around everywhere. They will have to tear down this terminal and rebuild it on the other side of the bridge to fix this massive mistake.
http://www.npr.org/templates/story/story.php?storyId=96510518