Wednesday, February 4, 2009

PPI Trade Facts of the Week:

The Numbers:

Value of "fiscal stimulus" packages worldwide:

United States: $825 billion
China: $586 billion
Japan: $250 billion
Germany: $80 billion
Spain: $50 billion
France: $35 billion
United Kingdom: $30 billion
Canada: $45 billion
India: $20 billion
Australia: $20 billion
Korea: $11 billion
Brazil: $5 billion
Thailand: $3 billion
Singapore: $3 billion
Chile: $3 billion

I posted earlier on this; what I had read suggested China's actual stimulus was closer to $1.5 trillion, but it could all be a mirage, including spending already counted, etc. Still, though, China announced it would bring back universal health care. Can't help the feeling that China is using the crisis to move forward, and we are not... The other point worth making is that b/c of the crisis, and the ensuing flight to quality, the US has a freer hand to have a big stimulus than smaller countries do, although the Eurozone's stimulus package is pathetic. (And, last I saw, they still had some inflation and non-zero interest rates... I suspect that won't hold up for long.)

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