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China has come up with its own stimulus plan to deal with the global recession and rising unemployment, according to the International Herald Tribune. Unlike the U.S., China has few debts, a small budget deficit and therefore more funds to invest in new spending plans. In order to quickly create jobs for millions, China is planning to spend $88 billion this year on construction of intercity rail lines and improving roads and highways throughout almost every city, town and county across the country. This plan will not only create millions of jobs, but will also curb China's dependence on cars, foreign oil and reduce air pollution. The stimulus plan will also include environmental projects like water treatment plants.

Economists are arguing about the actual feasibility of this plan and how quickly it will be executed. But most experts say that China will move faster than the U.S. in implementing their stimulus plan. This is because the government controls large sectors of the economy and is able to seize private property when it wants without all the legal and environmental regulations the U.S. government has to deal with. China is also planning to spend $123 billion to provide universal health care within the next 2 years according to the Tribune.

In a country that has seen the fastest growing GDP in recent years, perhaps it will be able to pull off this larger than life plan — even in a recession!

Whether the Chinese government will be able to stem the deepening economic crisis remains to be seen — right now it is hitting China's workers hard.