Word: china
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Dates: during 2000-2009
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...Read "China Takes on the World...
...China Blog...
...speed and relative success so far of China's stimulus stands in stark contrast with that of the U.S. According to a recent study by the World Bank, Beijing's government spending will generate more than 80% of the country's overall economic growth this year. This is partly because China was already in the midst of a nationwide infrastructure program when the recession hit. Emergency spending measures simply added to existing schemes already under way. In other words, the projects really were shovel-ready, and the money hit the streets quickly - and in large dollops. Outlays on new railway...
...China's recovery and growing economic importance have led some to suggest that global institutions such as the Group of Eight - the U.S., the U.K., Canada, France, Germany, Italy, Japan and Russia - are becoming obsolete; that the only dialogue that really matters going forward is the conversation between the "G-2": China and the U.S. On July 27, President Barack Obama appeared to acknowledge this when, addressing participants in high-level talks between the two countries, he said Washington's relationship with Beijing would "shape the 21st century." In recent months, Beijing has started to throw its weight around. China...
...Indeed, China is increasingly open about both its ambitions and its concerns over U.S. economic policy, given its position as Washington's largest foreign creditor. Beijing never signed on to what became known in the late 1990s as the Washington Consensus on global economic policy, which called for free trade, privatization, light-touch regulation, prudent fiscal policies and - at least as many interpreted the consensus - free capital flows. The U.S. Treasury, in the wake of the credit meltdown, has put forward a plan to enhance regulation of its own capital markets, but that is unlikely to prevent Beijing from continuing...