China

Spending Increases to Tackle Slump The global economic crisis has had a huge impact on China, the world’s fastest-growing major economy. The World Bank predicts that GDP growth in China will fall to 7.5% in 2009, from 9.4% in 2008. The Chinese government is trying to soften the landing with an economic stimulus package that it announced last November. The main goal of the package is to boost domestic demand. The state will invest $570 billion during the next two years in areas such as housing construction, rural infrastructure, water and electricity...

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