Since the global financial crisis erupted one year ago, the BRIC countries have launched a number of vigorous stimulus packages that have contributed much to the world’s economic stability. Some of the developing nations have helped to keep the crisis from going worse through extraordinary economic performances but many of them are still confronted by challenges such as shrinking trade and slumping domestic consumption. The developing countries must make economic reforms and tackle their structural problems so that they can make progress in the long run. To deal with the crisis, many emerging economies have employed a variety of stimulus policies to boost liquidity, investment, consumption, and economic growth. Those countries are believed to be the potential vanguard that will lead the world out of the ongoing crisis in the future. Facing export declines and deflation pressure, China adopted proactive fiscal policies and a relatively easy monetary policy in a timely fashion. Read more
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