A good friend of mine who is an executive at a large American Bank that owns a good-sized chunk of a large China bank, sent me this report on China’s economy from the World Bank. He said that “his” bankers think very highly of this report, as do I.
Its highlights, as set forth on the World Bank’s own website:
The impact of the international financial and economic turmoil on China’s economy has been manageable so far, but is expected to intensify.
Domestic factors have already made China’s economy slow down in 2008, coming off its high pace in 2007.
Against this background, the authorities have adopted a more expansionary macro economic stance, and higher government-influenced spending is going to play a key role in 2009.
The stimulus policies provide China with a good opportunity to rebalance its economy in line with the objectives of the 11th five-year plan.
Click here for the full report in pdf format. Good stuff.
What do you think?