Consumer confidence

Thirdly, China has a huge domestic market and boosted national consumption through various economic stimulus packages. As a result, the leadership regained consumers' confidence. soccer jerseys
The vehicle industry in China, for example, is soaring. Compared to the previous year, commercial vehicle sales rose by 60.6 per cent in July 2009, truck sales were up 46.4 per cent (with heavy trucks up by 85.7 per cent), and the sale of buses rose by 82.8 per cent, mainly driven by a 103.1 per cent rise in minibus sales.
And with sales up by 64.5 per cent for passenger vehicles, China set a new record. That frees capital to be invested in other parts of the world, such as Africa.

During his visit to China in early September, Robert Zoellick, the World Bank president, underlined the importance of China to the global economy.
"With growth in China now projected at close to eight per cent for 2009 as a whole, and signs of stabilisation in many other economies in Asia and around the world, the chances of a truly global recovery have increased measurably," he noted.
Advanced countries, including the Euro zone, the US and Japan, have a lot more difficulties coming out of the crisis. They sit on large debts and have to deal with saturated domestic markets allowing little space for growth.
It started with the housing bubble in the US. Cheap credit and the prospects of favourable long-term returns on the housing market led American consumers to borrow relentlessly.
When interest rates rose and housing prices dropped, many people were unable to make the payments. The same happened, albeit on a larger scale, to investment banks from all over the world who had put their money into the American housing market.
The housing bubble burst in July 2007, pulling the world into the biggest financial crisis since the great depression. The bankruptcy of Lehman Brothers in mid-2008 became the symbol of economic meltdown.