via WikipediaChina’s 450 billion euro package has been part of setting the stage ahead of the global financial meeting on Saturday in Washington, says Arthur Kroeber, managing director of the Beijing consultancy Dragonomics in USA Today.
President Hu Jintao is joining the meeting for China and the country wants to show it is a responsible global citizen:
China’s massive stimulus package should boost confidence at home and enable Hu “to go to Washington and say, ‘China is doing its bit for global demand,’ ” says Arthur Kroeber, managing director of Dragonomics, a research firm in Beijing. “China wants to be seen as part of the solution and be perceived as a responsible global citizen.”
But China is only going to support the IMF or global initiatives if they get something out of it, says Kroeber:
China’s leaders “will only put up more money if they get a clear promise” of more votes. “China will be driving a hard bargain.”
Arthur Kroeber is part of a group of authoritative speakers on China’s financial industry and its economy, gathered in the China Speakers Bureau. If you are interested in hearing one of China’s leading voices, do get in touch.William Overholt
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