09/17/2009

This Giant Isn't Sleeping

It’s now widely believed that the global recession is coming to an end, but the path out has been far from typical: This time around, China, not the U.S. has led the global recovery. With its $600 billion stimulus package and with banks lending with abandon, China has become the engine of global manufacturing and industrial activity. Its demand for commodities, especially copper and iron ore, has driven up prices, and its domestic market has been a rare source of strength for American companies ranging from Caterpillar to Intel, General Motors to Procter & Gamble.
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