China’s Massive $586 Billion Stimulus Plan

 China’s Massive $586 Billion Stimulus Plan

The world’s largest inflation cycle is about to begin

China on Sunday night announced an aggressive $586 billion economic stimulus package, the largest in the country’s history, at a time when it is struggling with increasing social unrest due to factory closings and rising unemployment.

In a wide-ranging plan that economists are comparing to the New Deal, the government said it would ease credit restrictions, expand social welfare services and launch an infrastructure spending program that would include the construction of new railways, roads and airports.

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