Economic Stimulus Aimed At China’s Rust Belt

Earlier this week, Chinese media reported that China’s economic planner will roll out its Northeast Revitalization Plan 2.0, a package of about 130 projects with total investment of 1.6 trillion yuan, over the next three years, to help the region. It appears that Beijing has fallen back to its old trick of fiscal stimulus in an attempt to revive economic growth in northeast China, which is also called as the country’s rust belt that is falling into economic stagnation, or even recession.