GDP sinks 6.2% to a decrease of $19.9 billion, driving the GDP downward. Consumer spending and export demand remain weak.
Whether the outlook is bleak or hopeful, economists agree on the fact that the threat is the credit crisis.("Weiji" in Pin Yin) which means Danger and Opportunity." Obtain "A Glimpse of the Chinese Language" available free of charge as public service from www.rand.org PDF form.
"The economy is unlikely to have sutainable growth until banks are healthy to begin lending more and more." Said Bernard Baumohl, chief global economist at the Economic Outlook Group, a forecasting firm in Princeton, N.J.
Prof. John K. Galbraith is witty in saying : "There are those who don't know and those who don't know they don't know." re economic forecast.
In 2010, we may see anemic growth or recession after the stimulus disappears.(sic)
Rosy or otherwise,the economic reality is up to your mindset and empirical evidence.
Francis Shieh a.k.a. Xie Shihao, an independent watcher in the field of economics. February 28, 2009 at 3.46 p.m.