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Politics : Formerly About Advanced Micro Devices
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To: tejek who wrote (493833)7/9/2009 5:37:59 PM
From: i-node  Read Replies (3) of 1572508
 
...its been reported for the past two weeks that China's economy is turning primarily because of its stimulus plan.

You know what they did? After proposing a stimulus plan, they took money OUT of infrastructure expenditures, OUT of low-income housing, OUT of "green" projects for conservation, and moved it into TECHNOLOGY.

They didn't spend money they previously had planned NOT to spend. They simply rejiggered the way the money would be spent. Interestingly, by cutting expenditures for the very things that the Obama stimulus spends MORE on.

Also, anyone who is vaguely familiar with China's economy recognizes that this "stimulus" is fundamentally different from the US government's -- in particular, most of this money -- 70% -- comes from state-owned businesses.
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