The Roots of China’s Rapid Recovery
For much of the world, China’s ability to shrug off the global financial crisis and maintain a strong growth trajectory in 2010 and 2011 seems too easy. But, while aggressive stimulus certainly helped, China's real salvation was cautious macroeconomic management well before the crisis hit.
https://prosyn.org/Sj40iuy
BEIJING – China’s GDP is estimated to have grown 8.7% year on year in 2009 – once again the highest rate in the world – with the fourth-quarter increase reaching 10.7%, compared to 6.3% in the fourth quarter of 2008. For much of the world, China’s ability to shrug off the global financial crisis and maintain a strong growth trajectory in 2010 and 2011 seems too easy.