China's Stimulus Win

President Obama may be taking constant grief over the effectiveness of his $700 billion-plus stimulus plan, but China is feeling pretty good about its equivalent. According to the Wall Street Journal, China has bounced back from the economic downturn more quickly than analysts anticipated and grew at a pace of 7.9 percent in the second quarter. Chinese authorities' expansionary monetary policies and $585 billion stimulus plan are helping fuel the country's standout growth and the Shanghai stock market's leading index has gained 75 percent this year in response to the improving business outlook. While some analysts have raised concerns about potentially creating new asset bubbles and whether China's growth is sustainable, the country's success could be key to helping the rest of the global economy bounce back.