Defying the Economic Odds: The World Melts Down, China Grows | ForeignPolicy | AlterNet
Shared by Phil
The American community hates communist but yet communist, like China, help out the US with it's economic crisis. At a time like this, every country should join hands and help each other out because if one country falls, others might fall along with it. The hating in this world is helping no one and it will only bring up more war and conflict. If the economy rises with the help of communist, then America will feel stupid so is that why America is afraid to ask help form communist countries?
The statistics speak for themselves. The International Monetary Fund (IMF) predicts the world's gross domestic product (GDP) will shrink by an alarming 1.3% this year. Yet, defying this global trend, China expects an annual economic growth rate of 6.5% to 8.5%. During the first quarter of 2009, the world's leading stock markets combined fell by 4.5%. In contrast, the Shanghai stock exchange index leapt by a whopping 38%. In March, car sales in China hit a record 1.1 million, surpassing the U.S. for the third month in a row.