November 10, 2008
China boosts global economies with $570 billion infusion

China announced that it will invest 4 trillion yuan (US$570 billion) into its own economy, immediately boosting stock markets worldwide.

The money will be used to build new roads and bridges, improve airports and aid the country’s 800 million farmers.

Shang Jin Wei, a professor of finance and economics at the Columbia University’s Business School, speaks with Martin Savidge about the impact of China’s infusion on the world economy and U.S. debt to China, as well as the effect on export prices to the U.S.

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