Thursday, December 30, 2010
Which Country Will Be The First-I
The central government in China announced a 4 trillion yuan ($586 billion) stimulus in November 2008. The stimulus primarily focuses on roads, railways, and major infrastructures inside China. According to CCTV the central government will support projects already under construction in a local province in the amount of 10 trillion yuan ($1.4 trillion). For instance, Yunnan Province will receive 3 trillion yuan ($439 billion) over the next five years. It is proposed that Guangdong Province will receive 2.3 trillion yuan ($337 billion) in investment. In addition, the Chinese government put 850 billion yuan ($124 billion) on health care reforms over next three years in January 2009 (Japan Times). A number of countries have tried to get out from the financial chaos including Japan (2 trillion yen), Australia (52 billion-Australian dollar), Thailand (270 billion baths), the United States (over one trillion dollars), and Germany (50 billion Euro) etc. Which country will be the first nation get out from this financial mess? It will not be the USA, nor Japan, but probably China.