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12 Years Later, China Is Still Suffering From Its Five Trillion Yuan Economic Stimulus Plan

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12 Years Later, China Is Still Suffering From Its Five Trillion Yuan Economic Stimulus Plan
Customers and real estate agents looking at several building models at a real estate exhibition in Jiashan County, in eastern China's Zhejiang Province on Oct. 19, 2012. AFP/Getty Images
He Qinglian
Updated:
Commentary
The U.S. government is now pushing for a new infrastructure plan that starkly resembles Beijing’s 5 trillion yuan rescue plan back in 2009. A significant factor is that mass printing of hard currency plays a key role in both plans. U.S. lawmakers can learn from China’s experience by gaining a deeper understanding of Beijing’s 2009 stimulus plan.
He Qinglian
He Qinglian
Author
He Qinglian is a prominent Chinese author and economist. Currently based in the United States, she authored “China’s Pitfalls,” which concerns corruption in China’s economic reform of the 1990s, and “The Fog of Censorship: Media Control in China,” which addresses the manipulation and restriction of the press. She regularly writes on contemporary Chinese social and economic issues.
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