Fareed Zakaria: China Is The Recession's "Winner"

newsweek.com:

The great surprise of 2009 has been the resilience of the big emerging markets -- India, China, Indonesia -- whose economies have stayed vibrant. But one country has not just survived but thrived: China. The Chinese economy will grow at 8.5 percent this year, exports have rebounded to where they were in early 2008, foreign-exchange reserves have hit an all-time high of $2.3 trillion, and Beijing's stimulus package has launched the next great phase of infrastructure building in the country. Much of this has been driven by remarkably effective government policies. Charles Kaye, CEO of the global private-equity firm Warburg Pincus, lived in Hong Kong for years. After his last trip to China a few months ago he said to me, "All other governments have responded to this crisis defensively, protecting their weak spots. China has used it to move aggressively forward." It is fair to say that the winner of the global economic crisis is Beijing.

Read the whole story: newsweek.com

Comments

[MarcusT]

America uber allis-nationalism will the the winning theme in 2012.

[Siebenstein]

I can already hear certain Americans (the right leaning ones) say:" I always suspected the Chinese of having caused our fiancial crisis in order to get ahead."

An American attitude always pointing the finger away from themselves. This sort of behavior is happening in EVERY war Americans started . They slaughtered people in other countries to support their war industry, and accuse the victims of being ignorant when they 'do not dance to American music'.
This IS exactely why many countries are sick and tired of the US.
I am counting; lets see when that first comment comes along?!

[Bloggerrogr]

At 66 years of age, I'm wondering if I shouldn't be learning how to speak Mandarin...

FWIW