China’s Emerging Consumer Market What’s Missing in China’s Stimulus Package?
As the world begins to emerge from the worst economic recession in recent memory, stimulus packages enacted by various governments around the world are very much in the spotlight. The early verdict on China’s massive stimulus is favorable. The Wall Street Journal reports that “spending by Chinese consumers is holding up pretty well, partly because of heavy stimulus spending by a government flush with cash. Urban household spending in China was up 9.2% in the first half of 2009.”1