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China's Stimulus Is No Model for U.S.
If only America's leaders were more Chinese. That's the provocative suggestion made in a paper published by the Federal Reserve Bank of St. Louis, and it's sure to elicit a smile among Communist Party bigwigs. Before this goes to Beijing's head, let's consider how silly this insinuation by economists Yi Wen and Jing Wu really is -- and how China is a much bigger worry for the world economy than the U.S. is. Was the U.S. response to the 2008 financial crisis state of the art? Far from it. Should lawmakers have granted President Barack Obama his wish of a bigger fiscal stimulus package? Absolutely. As Obama said at the ... (full story)