Sunday, May 17, 2009

After 500 years, the economic engine is going back to Asia

The American savings rate went from - 6% to +4% in the last eight months.

A Wall St. Economist on the U.S. and China -
@Seeking Alpha
But the drop-off in exports has led to the Chinese authorities launching a huge fiscal stimulus to build infrastructure and keep the economy running. They appear to be in the midst of replacing export-led growth with consumer-driven growth."

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