Alexander

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In the words of a leading American analyst, Document No. 18 “added to the sense of urgency, communicating the sense that it was OK to overturn ordinary obstacles to spending the money.” Over the days that followed, across China, provincial party meetings were hurriedly convened to “seize the favorable opportunity created by expansionary fiscal policy and the ‘appropriately loose’ monetary policy,” as one Shandong committee declared. On the evening of November 11 in Wugong County in Shaanxi Province, a “County Leadership Small Group for Implementing Central Document No. 18” was convened, to ...more
Alexander
Christ that's fast
Crashed: How a Decade of Financial Crises Changed the World
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