China learns from US/UK mistakes

NVDL: Instead of pouring billions into banks and sectors that are failing anyway (autos), China has sagely invested in housing, rural infrastructure, railways. All the sort of thing that common sense would support. The bailout, as many writers have said, was really a bailout of the structures of the rich, by the less rich. The fact that the less rich allowed themselves to be swindled means that they probably deserved it. China is far more of a 'community' with fewer focussed on individual wealth. That mindset is required now, more than ever, and is why the USA is destined for bankruptcy (if it ain't already).

clipped from www.businessday.co.za China’s $586bn package will be spent on affordable housing, rural infrastructure, railways, water provision, environmental protection and its power grid, things that will boost domestic consumption. To do this it will have to import resources found in Africa, which could be of some comfort to our ailing resources sector.