Goldman Sachs
4th Annual Global Steel CEO Forum
December 4, 2008
§Reversal
of Former Strategy to Control Overheating Economy / Inflation
§Target
8-9% GDP in 2009
§Fiscal
Stimulus
–US $590 Billion Infrastructure Spending
–Focus Major Infrastructure Projects, Rail, Ports, Highways
–Focus Public Housing
–Lowering Taxes (Including Income Taxes?)
–Reducing Export Taxes
§Monetary
–Rapidly Cutting Interest Rates, Latest by 1.08%
–Providing More Export Subsidies
–Currency Now Depreciating to US$ (6.83-6.85)
China