The Chinese government is well aware of the world-wide recession and is acting. Maybe not all decisions are perfect but at least they move faster and in a more pragmatic manner than most Western countries. The 4 trillion Yuan package announced a couple of days ago is overall good as it will address urgent needs to improve infrastructure (railways & other) and many other sectors. Admitted, some of the projects are not entirely new but still, it’s a lot that will give a boost to the local industry – and some foreign companies too.

Of course, many are still in denial (the term “recession” is mostly avoided). Too bad. We are still going downhill, the USA market looks worse and worse, foreclosures up, consumer buying down.

See above chart from IHT dated 8 November. Once that filters down the industry, expect even more lay-offs and problems in “the factory of the world”. So, something has to be done.

On 12 November I was invited for a morning meeting and lunch with the Beijing Chaoyang District to review several options to boost the economy in the district that is one of the main sources of GDP. It houses the CBD, Complex 798, the entertainment and shopping areas of Sanlitun and the Olympic Green, among many others. One of the main topics was how to make the best use of the immense Olympic Green area.

Gilbert with the Chaoyang District Governor Mr. Cheng Lianyuan and Chaoyang Vice Mayor Ms. Gou Zhong Wen.