China's Recovery
Despite what the IMF has to say this morning … the World Bank expects China’s economy to start growing by mid-year, as a result of its massive stimulus package (some $A800 billion).
Overall growth for China has become more certain, as activity moves from state-funded projects into housing and improved consumption.
This should take full effect in late 2009, and early 2010. And will influence the speed with which Australia comes out of the current recession.
And these same thoughts were echoed by the Reserve Bank’s governor (Glenn Stevens) on the front page of yesterday’s Financial Review.
