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12 Years Later, China Is Still Suffering From Its Five Trillion Yuan Economic Stimulus Plan


12 Years Later, China Is Still Suffering From Its Five Trillion Yuan Economic Stimulus Plan
Commentary
The U.S. government is now pushing for a new infrastructure plan that starkly resembles Beijing’s 5 trillion yuan rescue plan back in 2009. A significant factor is that mass printing of hard currency plays a key role in both plans. U.S. lawmakers can learn from China’s experience by gaining a deeper understanding of Beijing’s 2009 stimulus plan.
Looking back, Beijing’s 5 trillion yuan (which is about $781 billion today) rescue plan succeeded in preserving employment, but overall it was a failure due to the distortion of the entire Chinese economic structure. The Chinese regime shifted toward a dependency on real estate and restricted the consumption of Chinese citizens. A more disastrous result of the 2009 plan was that it created a massive railroad, highway, and infrastructure excess capacity, which diverted most assets toward real estate, especially in terms of residential housing. As a result of this severe surplus, China needed to find a solution for the excess production capacity and thus created the Belt and Road Initiative (BRI, also known as “One Belt, One Road”). This initiative had limited effects on the economy and caused global backlash, as many BRI projects quietly metamorphosed into “foreign aid” programs.

China , Germany , Beijing , Hunan-province , Hunan , Japan , United-states , Jishou , Chinese , American , Wu-xiaoling , Viva-villa

Greenville Drive are back and driving business to the West End

Businesses in the West End are ready for the added energy coming their way thanks to the Greenville Drive season starting

Mexico , United-states , Valencia , Carabobo , Venezuela , Mexican , American , Nolan-blair , Viva-villa , Mac-hospitality-group , West-end , Greenville-drive

Mark James Miller: He always had a twinkle in his eye: Leo Carrillo

Mark James Miller: He always had a twinkle in his eye: Leo Carrillo
lompocrecord.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from lompocrecord.com Daily Mail and Mail on Sunday newspapers.

Australia , United-states , Leo-carrillo-state-park , California , Nipomo , Hollywood , Spain , Central-coast , New-south-wales , America , Spanish , Leopoldo-antonio-carrillo