We Aren't the Only Ones!

From Brianna Howell

Today (Nov 9), China announced plans for an $586 billion bailout plan. The Chinese State Council said, "Over the past two months, the global financial crisis has been intensifying daily. In expanding investment, we must be fast and heavy handed." Because of this, China is dumping 7% of their GDP into the plan. This goes to show that is not only the US economy that is falling apart. This plan is different from the US's bailout plan because as I understand it, the US's revolved around central and local banks whereas the Chinese plan revolves around state banks. Also, the senario between contries is different because the Chinese government has more control over what happens to the stock market because of the socialist economy so this bailout package is more designed to curve the domestic economy. China's president is still concerned with the global economy though; he's already had phone calls with Obama discussing the issue.

Slightly irrelevant from the article, this makes me wonder if Bush is really deserving all the blame he's getting for the poor US economy? If this economic fall is happening on a global scale, can he really be to blame?.. Pardon my ignorance, but i really have no idea??