The People’s Bank of China (the Chinese Fed) cut it key lending rate by 27 basis points 5.31%. This is the fifth time since September that China has cut interest rates.
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Basically China makes crap. Unfortunately for China, the USA which is the biggest crap buying country of all, is in a recession and moving into a depression in 2009-2010. I don’t see any good news for China here. There is also a
very good chance the USA will default on it’s debt in 2009. China will have a very difficult time feeding their population. Buyin stocks at this time is irresponsible financial thinking.
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