shift of power
While the world is struggling to recover from the devastating financial crisis, China seems to be full of events. Japan’s news revolve around the flat interest rates, in U.S. the fiscal deficit is still hot and in rest of the world the news revolve around investments. China’s news agencies on the contrary are busy publishing on the royal celebrations for completion of 60 years, boom in retail markets and China’s contribution to other third world countries. This Fatherly behavior of China makes the developed countries feel like a child. McKinsey & Company, in a recent report has predicted that China’s domestic spending will reach 12 trillion Yuan by 2015!
The integrated commercial and traffic complex for World Expo at Shanghai is being decorated in full swing. It is also planning to spend half a trillion Yuan in developing the country’s western region. » Read more: How different is Chinese economy?
