November 11th, 2008
Now here is a way to spend the stimulus money AND create JOBS. Just think if Illinois could take advantage of the federal money already approved and put it to better use!! Blago needs to approve a Capital Plan and not lose the Federal match!!
Here’s what China is doing…source: WSJ, Nov. 11, 2008:
“As more of the world falls into financial turmoil, China is hoping that an infrastructure spending spree can help sustain its long record of expansion and rising prosperity.
Much of the $586 billion stimulus package China unveiled this week will go toward building highways, railroads and airports. Already, according to official estimates, infrastructure spending had been increasing by an average of 20% annually for the past 30 years — a tried and true engine that has helped power the Chinese economy’s explosive growth.”
November 11th, 2008
Here’s one industry that shows strength as it does in the U.S. Source: Guardian, U.K.
The UK’s aerospace and defence industry turned in a strong performance last year and has the resilience to weather the global financial crisis, claims a report out today.
Orders rose 65% to a record £43.8bn in 2007, though sales were only 1% higher at £19.8bn, the Society of British Aerospace Companies (SBAC) said. Growth had been held back by exchange-rate fluctuations between sterling, in which UK companies report figures, and the dollar.
The SBAC’s annual survey also showed research and development spending had risen sharply, climbing from £2.5bn in 2006 to £2.9bn last year when the aerospace and defence industry contributed £628m to the UK balance of payments. The society’s chief executive, Ian Godden, said: “At a time of gathering clouds in other major business sectors, the industry continues to deliver for Britain.”
Godden warned that, despite its strengths, the UK industry was “at a crossroads” and would not escape the financial crisis unscathed, but added, “providing liquidity is maintained in the sector, it should play a major role in the recovery of the UK economy”.
The SBAC said competition was becoming more global and fiercer, while recruiting, retaining and developing skilled workers was becoming more difficult. “If the UK industry is to maintain its position of strength, it is essential industry and government work together to address the challenges we face, especially in terms of investment in the future,” Godden said.
