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The 2008–09 Chinese economic stimulus plan (simplified Chinese: 扩大内需十项措施; traditional Chinese: 擴大內需十項措施; pinyin: Kuòdà Nèixū Shíxiàng Cuòshī) was a RMB¥ 4 trillion (US$586 billion) stimulus package aiming to minimize the impact of the Great Recession on the economy of China. [2][3] It was announced by ...
The economic history of China describes the changes and developments in China's economy from the founding of the People's Republic of China (PRC) in 1949 to the present day. The speed of China's transformation in this period from one of the poorest countries to one of the world's largest economies is unmatched in history. [1]: 11.
The 2007–2008 financial crisis, or the global financial crisis (GFC), was the most severe worldwide economic crisis since the Great Depression. Predatory lending in the form of subprime mortgages targeting low-income homebuyers, [ 1 ] excessive risk-taking by global financial institutions, [ 2 ] a continuous buildup of toxic assets within ...
The Great Recession was a period of market decline in economies around the world that occurred in 2007 to 2009. The scale and timing of the recession varied from country to country (see map). [1][2] At the time, the International Monetary Fund (IMF) concluded that it was the most severe economic and financial meltdown since the Great Depression.
The Hong Kong economy officially slid into recession in the final quarter of 2008. The economy is predicted to grow at 2 percent in 2009. Hong Kong is an advanced tertiary economy built on services, retail, tourism, transport and financial industries. Hong Kong's manufacturing industry is located in Guangdong province which employs over 11 ...
The 2008 G20 Washington Summit on Financial Markets and the World Economy took place on November 14–15, 2008, in Washington, D.C., United States. It achieved general agreement amongst the G20 on how to cooperate in key areas so as to strengthen economic growth, deal with the 2008 financial crisis, and lay the foundation for reform to avoid similar crises in the future.
Rajan’s analysis of the roots of the 2008 financial crisis focuses on three fundamental stresses: widening income inequality in the US, trade imbalances in the global economy arising out of historical trajectories followed by late-developing countries, and the clash between arm’s length financial systems, as present in the US and Britain, and relationship-based financial systems, as ...
At the height of the 2008 financial crisis, Bush said: “If money isn’t loosened up, this sucker could go down!” Don't miss Commercial real estate has beaten the stock market for 25 years ...