China huge fiscal stimulus plan cheered up global markets yesterday!

China huge fiscal stimulus plan cheered up global markets yesterday!
Nov 11, 2008 01:32
JIMMYB Points: Join Date: Feb 7, 2007 Status: offline	After China announced that it would spend 4000 billion rmb to prevent its economy from slumping next year, global market were cheered up. Chinese mainland markets rose 7.3 percent. Shanghai Composite Index climbed to 1800 points and the Shenzhen Component Index reached 6000 points. Meantime, the stock markets in Asia, Europe and Latin America jumped yesterday too. In Tokyo, the Nikkei 225 average climbed 5.8 per cent. Shares also rose sharply in Brazil, Chile and Mexico on news of China's spending plans. However, the economists warned that the huge amount of fiscal stimulus package might not surely prevent a serious slump. On the other hand, the whole world applaused for China's new fiscal policy. But some people still think that China can't save the world from the financial crisis. So what do you think?

Nov 11, 2008 01:32

JIMMYB
Points:
Join Date: Feb 7, 2007
Status: offline

After China announced that it would spend 4000 billion rmb to prevent its economy from slumping next year, global market were cheered up. Chinese mainland markets rose 7.3 percent. Shanghai Composite Index climbed to 1800 points and the Shenzhen Component Index reached 6000 points. Meantime, the stock markets in Asia, Europe and Latin America jumped yesterday too. In Tokyo, the Nikkei 225 average climbed 5.8 per cent. Shares also rose sharply in Brazil, Chile and Mexico on news of China's spending plans.

However, the economists warned that the huge amount of fiscal stimulus package might not surely prevent a serious slump.

On the other hand, the whole world applaused for China's new fiscal policy. But some people still think that China can't save the world from the financial crisis. So what do you think?

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