China Announces $586 Billion Stimulus Plan

[Bread and Circus]

http://www.nytimes.com/aponline/business/AP-AS-China-Stimulus-Package.html?ref=business

BEIJING (AP) -- China announced a $586 billion stimulus package Sunday in its biggest move to stop the global financial crisis from hitting the world's fourth-largest economy.

A statement on the government's Web site said China's Cabinet had approved a plan to invest the amount in infrastructure and social welfare by the end of 2010.

Some of the money will come from the private sector. The statement did not say how much of the spending is on new projects and how much is for ventures already in the pipeline that will be speeded up.

[Ian David]

1. But an hour after being stimulated, you feel like being stimulated again. n/t