A series of massive urban stimulus plans have been announced recently by several Chinese cities. Economists are split on whether the projects can speed up the country's growth rate and accommodate the influx of urban migrants, reports Chris Oliver.
With China's economic growth rate falling to its slowest pace since the 2008 global crisis, and more deceleration predicted, several local Chinese governments have announced stimulus packages in the hundreds of billions of dollars in recent weeks. The latest came out of the port city of Tianjin, who announced "plans to invest 1.5 trillion yuan ($236 billion) to offset its slowing
growth rates," writes Oliver. "The four-year plan is targeted at 10 industries ranging
from petrochemicals to ports."
"The announcement comes on the heels
of similar stimulus packages in the major metropolis of Chongqing and
the southeast province of Guangdong, which unveiled plans to spend 1.5
trillion yuan and 1 trillion yuan, respectively. Big stimulus
packages were also unveiled by other Chinese cities in recent weeks,
including Wuhan, Ningbo and Guizhou, according to state media."
While some economists see the plans, which effectively repeat the government's initial response to global economic recession, as the right medicine, other are not convinced.
"Standard & Poor's said Wednesday that massive public spending
might boost growth rates in the short term, but it's not clear such
stimulus would bring about longer-term benefits to the Chinese economy," writes Oliver.
"It
highlighted concerns over the efficiency of some projects, adding that
wasteful investment could even have a toxic effect down the road."
FULL STORY: Can China’s stimulus plans really help?
Oregon Passes Exemption to Urban Growth Boundary
Cities have a one-time chance to acquire new land for development in a bid to increase housing supply and affordability.
Where Urban Design Is Headed in 2024
A forecast of likely trends in urban design and architecture.
Savannah: A City of Planning Contrasts
From a human-scales, plaza-anchored grid to suburban sprawl, the oldest planned city in the United States has seen wildly different development patterns.
Washington Tribes Receive Resilience Funding
The 28 grants support projects including relocation efforts as coastal communities face the growing impacts of climate change.
Adaptive Reuse Bills Introduced in California Assembly
The legislation would expand eligibility for economic incentives and let cities loosen regulations to allow for more building conversions.
LA's Top Parks, Ranked
TimeOut just released its list of the top 26 parks in the L.A. area, which is home to some of the best green spaces around.
City of Rochester
Boston Harbor Now
City of Bellevue
HUD's Office of Policy Development and Research
Mpact Transit + Community
HUD's Office of Policy Development and Research
City of Birmingham, Alabama
City of Laramie, Wyoming
Colorado Department of Local Affairs
Urban Design for Planners 1: Software Tools
This six-course series explores essential urban design concepts using open source software and equips planners with the tools they need to participate fully in the urban design process.
Planning for Universal Design
Learn the tools for implementing Universal Design in planning regulations.