Flaherty May Follow China

Published: Wednesday, 11/12/2008 12:00 am EST

Finance Minister Jim Flaherty commended the Chinese government for delivering a nearly $600-billion (US) package to boost the country's domestic economy, the National Post reported. Following a meeting of the G20 finance ministers and central bankers in Sao Paulo, Brazil, on Saturday, Mr. Flaherty said Canada would be prepared to follow China's move and introduce new fiscal measures to offset fallout from a weakening U.S. economy. Bank of Canada Governor Mark Carney also had high praise for China's stimulus package, calling it a "significant" contribution in solving the credit crisis.

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