My comment: This has been an awaited package. Most projects are part of previously approved packages, but this announcement gives special relevance to them and probably ensures their accomplishment on time.
About its content, in my opinion, the positive comment is that its direction is absolutely correct, it pushes development from below: - low-income housing, rural infrastructure, water, electricity, transportation, the environment, technological innovation and rebuilding from several disasters, most notably the May 12 earthquake. - comprehensive reform in value-added taxes, which would cut industry costs by 120 billion yuan. - commercial banks' credit ceilings will be abolished to channel more lending to priority projects, rural areas, smaller enterprises, technical innovation and industrial rationalization through mergers and acquisitions. On the negative side, in my opinion, it lacks further development in some service fields (in particular healthcare and education) that still lack further investments. Those fields would rise employment while, at the same time, would improve the overall welfare. I am aware on the difficulties to deal with a goal that depends on professionals who require years to be ready to face their responsibilities (teachers, physicians, professors in different fields, etc.). But are not we the country where the most difficult challenges can be achieved? Conclusion. Its primary aim is to boost economy and welfare among the poor people and the poor geographic areas. That is great and correct, exactly what the country and the global economy needs. And it is like that both from an economic perspective and from a human perspective. But, in my opinion, it could be even greater if we include those areas, education and healthcare, into the package. Therefore, I am extraordinarily satisfied, but not fully satisfied. http://news.xinhuanet.com/english/2008-11/09/content_10331324.htm China Announces 4 Trillion Yuan Economic Stimulus http://www.bloomberg.com/apps/news?pid=20601087&sid=aIpq7IF4BM9Q&refer=home --~--~---------~--~----~------------~-------~--~----~ You received this message because you are subscribed to the Google Groups "World-thread" group. To post to this group, send email to [email protected] To unsubscribe from this group, send email to [EMAIL PROTECTED] For more options, visit this group at http://groups.google.com/group/world-thread?hl=en -~----------~----~----~----~------~----~------~--~---
