Meanwhile, In China, Copycats.

China weighs new plans to boost economic growth

BEIJING – Chinese leaders began weighing possible plans Monday to expand a massive stimulus package with higher spending on health and social programs amid signs an economic slowdown is worsening.

The meeting of top planners also might consider proposals to boost exports and to inject government money into slumping Chinese stock markets, according to state media. The government has released no agenda for the meeting.

The meeting comes as Beijing tries to figure out how to get the most out of a 4 trillion yuan ($586 billion) package announced in early November meant to shield China from a global slowdown with spending on construction and other projects.

Optimism that the meeting will produce more steps to bolster the economy lifted stock markets in Hong Kong and Shanghai. Hong Kong's Hang Seng index surged 7.5 percent Monday, while the Shanghai Composite index was up 2 percent.

A friend of mine remarked to me: "It's almost like every country in the world is joining a giant, economic suicide pact."

And if China jumps, it pulls us all with it.