China Invests $30 Billion in Renewable Energy; Economy Rebounds
China’s economy makes stunning rebound:
China’s economy grew nearly 8% in the second quarter of 2009, the government said, in a stunning turnaround for the Asian powerhouse that offered some hope for the rest of the world.
Analysts said the rebound in China would offer a boost of confidence for the global economy as it struggles out of the worst economic crisis since the Great Depression of the 1930s. To fight the downturn, the government had begun implementing an internal infrastructure stimulus package from November last year.
China’s exports dropped 21%.
Yet its overall industrial output actually expanded 9%!
Wait. How can that happen?
