China’s Consumers Are Still Spending (BusinessWeek Online)

Posted by admin on March 29, 2009 under News | 2 Comments to Read

China’s Consumers Are Still Spending (BusinessWeek Online)
BusinessWeek Online – The economic news coming out of China sounds dismal. Twenty million job losses. Ten thousand factory closings. Sputtering exports. Foreign direct investment receding fast. Even normally tight-lipped government officials have warned about social unrest. There are some reasons for optimism: Chinese banks opened their spigots and increased lending to an astounding $237 billion in January and another $157 billion in February. The stock market has rebounded 35% since the beginning of the year, and February sales grew 25% after the government announced tax breaks for cars with small engines. …