Beijing Plans to Continue Its Stimulus Next Year

In this Wall Street Journal article China's plan to continue its stimulus into 2010 is discussed. Despite issues or concerns about the plan on the economy, the Chinese government will continue with their same stimulus. Accordingly, "the Politburo of China's Communist Party met Friday to discuss economic policy for next year, and decided it will 'maintain the continuity and stability of economic policies, and continue to implement the proactive fiscal policy and loose monetary policy.'" The Politburo promises for more economic growth and efficiency by leaving room for a few changes within the next year. But the real issue is that there has been nothing done for long term sustainable growth, only short term. A few Chinese economists are also voicing concerns about this plan wasting investment money. There are is much that needs to be done in order for China to prosper in future years.