Economic Stimulus Working for China

China’s economy growing at a good pace for 2009

Economic stimulus measures seem to be working in China, reports the World Bank. Back in March, the World Bank cut China’s growth forecast to 6.5%. However, matters have improve, insists the World Bank. Now China’s growth forecast is 7.2%.

Even with this reasonably impressive growth forecast (especially when compared with other nations), China is still short of reaching its own projected 8% growth. But the country is not too far off.

The World Bank credits China with its 5 billion economic stimulus package back in November, as well as measures the country has taken in terms of making tax cuts, loosening credit and spending on infrastructure.