China Economy Forum

[Hellraiser007]

What were the conditions that India's highest leader (Sonia) grew up in?

Born in Europe to a European family, and working as a waitress?

Sonia is not our Leader but MMS is.

 

[cirr]

Business Spectator July 15, 2013 12:17PM

CHINA'S economy expanded in line with expectations in the June quarter, according to official data.

China's gross domestic product (GDP) came in at 7.5 per cent in the quarter, down slightly from the previous quarter's 7.7 per cent but equal to the central government's target annual target.

Bloomberg was expecting the nation's GDP for the three months to June to expand by 7.5 per cent.

The Australian dollar rose to US91.08 cents, up from US90.75 before the GDP data was released. The ASX 200 gained 0.1 per cent on the announcement.

Meanwhile, industrial production was also in line with expectations.

In June, industrial production increased 9.3 per cent, in line with a forecast 9.3 per cent rise.

China's retail sales lifted 12.7 per cent in March, also in line with expectations.

Cookies must be enabled. | The Australian

 

[Chinese-Dragon]

Very nice.

It should be noted that we are adding FAR more to our economy, with 7.5% of $8.3 trillion, compared to when we were growing at 12% of a $4 trillion economy.

Base economic size matters, not just percentage. The larger the base economy, the more GDP that gets added every year, even if the percentage is lower.

 

[cirr]

China's GDP growth slows to 7.5 percent, tests reform push

By Langi Chiang and Jonathan Standing

BEIJING | Sun Jul 14, 2013 10:42pm EDT

(Reuters) - China's GDP growth slowed in the second quarter to 7.5 percent year-on-year as weak overseas demand weighed on output and investment, lining up a test of Beijing's resolve to revamp the world's second-biggest economy in the face of deteriorating data.

Other figures showed industrial output in June rising slightly less than forecast compared with a year earlier, but retail sales increasing more than had been expected.

The latest year-on-year economic growth reading compared with the median forecast in a Reuters poll of 7.5 percent and showed the pace of economic activity easing from 7.7 percent annual growth in January-March.

"These figures are not surprising, adding to signs of downward pressure on China's economy," said Zhou Hao, an economist at ANZ Bank in Shanghai.

The Australian dollar, which is highly sensitive to Chinese demand for Australian raw materials, rose on relief the GDP numbers were not weaker, following last week's report of a surprise fall in exports in June from a year earlier.

China's statistics bureau said the economy's performance in the first half of the year was stable overall and that indicators were within a reasonable range.

New Premier Li Keqiang has been prominent in pushing for economic reform over fast-line growth, suggesting the government is in no rush to offer fresh stimulus to revive an economy in a protracted slowdown.

With the latest GDP data, China's growth has slowed down in nine of the last 10 quarters.

The government's official growth target for 2013 is 7.5 percent, impressive by world standards but it would be the slowest pace in 23 years for China.

The latest data showed the economy grew 7.6 percent in the first half of the year from a year earlier, just ahead of the full-year target.

Analysts have cut their forecasts for 2013 full-year growth in recent weeks following a run of weak data and government comments on slowing growth. Ahead of Monday's economic figures, they were mostly forecasting 2013 growth between 7 and 7.5 percent.

Last week, customs data showed China's exports fell 3.1 percent in June against forecasts for a rise of 4 percent, while imports dipped 0.7 percent versus an expected 8.0 percent rise. The customs administration added that the outlook for July to September was "grim.

Other figures had shown factory-gate deflation persisted for a 16th straight month, backing the view that the economy, plagued by industrial overcapacity, is losing momentum.

Annual consumer inflation accelerated more than expected in June, but remained subdued at 2.7 percent, below Beijing's annual target of 3.5 percent.

The main worry for China's leaders is if the economic slowdown leads to high unemployment that could spark social unrest. So far government officials say employment is stable.

So for now, economists do not see any major stimulus or policy shift and instead expect the government to tough out the slowdown as they pursue a longer-term vision of reforming the economy towards consumer-led, rather than export- and investment-led growth.

Beijing is still cleaning up trillions of dollars in local government debt left over from its last spending spree during the 2008/2009 global financial crisis, while trying to rein in off-balance-sheet loans.

"The focus is still on reforms. The chances of a cut in interest rates or banks' reserve ratio look slim," Xu Hongcai, senior economist at the China Centre for International Economic Exchanges (CCIEE), a think-tank in Beijing, said before the release of the GDP data.

"Previously, when the economy was not good, local officials held out their hands for money from the central government. But now they have to embrace reforms as no money will be given."

(Additional reporting by Kevin Yao; Editing by Neil Fullick)

China's GDP growth slows to 7.5 percent, tests reform push | Reuters

 

[ChineseTiger1986]

Our 2013 GDP should be around 9.3 trillion USD, which is not bad at all.

 

[cirr]

Very nice.

It should be noted that we are adding FAR more to our economy, with 7.5% of $8.3 trillion, compared to when we were growing at 12% of a $4 trillion economy.

Base economic size matters, not just percentage. The larger the base economy, the more GDP that gets added every year, even if the percentage is lower.

China has no wish to play the role of global growth engine when everyone is having a hard time。

And hard time is the best time to carry out all the reforms required for future growth。

 

[cirr]

Our 2013 GDP should be around 9.3 trillion USD, which is not bad at all.

The government has many tools at its disposal to stimulate the economy if it so desires and decides。

Reducing the sky high bank reserve ratio is one such tool。

Lowering the relatively high interest rate when the inflation is subdued is another。

Lifting restriction on car purchases in major cities is a third。

Relaxing the severe policies in place limiting the purchase of properties is a fourth。

With 101 trillion yuan in private and corporate savings nationwide，the government can always issue bonds to raise the necessary funds for bringing forward or speeding up infrastructure programmes planned or under construction。

etc。。。。

 

[cirr]

The 3rd pillar of economic output，i.e. trade，now counts for only 0.1% of China's GDP growth。

Those who claim that the Chinese growth story is dependent on exports should have his or her brain checked，thoroughly。

 

[Truth Finder]

The 3rd pillar of economic output，i.e. trade，now counts for only 0.1% of China's GDP growth。

Those who claim that the Chinese growth story is dependent on exports should have his or her brain checked，thoroughly。

Man, the whole world knows that Chinese economy is based on manufacturing and export. Don't spread garbage. You can't alter the truth.

 

[Chinese-Dragon]

Man, the whole world knows that Chinese economy is based on manufacturing and export. Don't spread garbage. You can't alter the truth.

LOL, what a joke.

Here are some facts for you:

China unlocks right kind of growth - Financial Times

China has never lacked for growth over the past decade but it has suffered from the wrong kind of growth, developing a dangerous reliance on investment.

Tucked into its latest economic data was evidence that the country has finally started to address this problem. Consumption clearly surpassed investment as China’s biggest growth engine, reinforcing a trend that emerged earlier this year – and something that has rarely happened over the past decade.

In the first three quarters, consumption accounted for 55 per cent of growth, while investment contributed 50.5 per cent. With external demand weak, net exports actually subtracted 5.5 per cent, according to data from the national statistics bureau.

Consumption is now the LARGEST component of Chinese economic growth, followed by Investment.

Net exports actually SUBTRACTED from our GDP growth. And that's not uncommon, in the past few years Net exports have been a negative component of our GDP growth.

Pedalling prosperity | The Economist

 

[sweetgrape]

Man, the whole world knows that Chinese economy is based on manufacturing and export. Don't spread garbage. You can't alter the truth.

EU USA are biggest importer of Chinese food, so they like "garbage"? seems only indian know the truth?

The whole world know indian are loser, more than 1 million indian childeren die every year, poor indian cann't afford chinese "garbage", what a pity!!

 

[Truth Finder]

China Is 175.6% Dependent on the U.S.

The Chinese economy increased its dependence on the United States last year according to recently released trade figures from Beijing and Washington.

China’s overall trade surplus in 2011 was $155.1 billion, according to the Ministry of Commerce.

And how much of that surplus is related to America? Commerce Department figures show that, through the first 11 months of last year, China’s trade surplus against the United States was $272.3 billion. That’s up from $252.4 billion for the same period in 2010, a 7.9% increase.

The Commerce Department has not released the December trade number yet, and some are predicting that China’s surplus against us will top $300 billion when all the figures are in. Yet let’s assume, merely to be conservative, that China’s December surplus is zero. If December’s surplus is zero, then 175.6% of China’s overall trade surplus last year related to sales to the United States. That’s up from full-year figures for the three preceding years: 149.2% for 2010, 115.7% for 2009, and 90.1% for 2008.

Notice a trend? The Chinese economy is becoming even more hooked on selling things to the United States. Why the big jump last year? Because orders from the 27-nation European Union for Chinese goods collapsed. And if Europe falls apart this year—increasingly likely—China will become even more reliant on the American consumer.

President Obama, in his State of the Union message on Tuesday, is expected to announce the creation of a China trade task force that will combine officials from the Treasury, Commerce, and Energy Departments as well as the U.S. Trade Representative’s office.

Is the concept a good one? Ted Alden of the Council on Foreign Relations praised the idea in the January 12 Nelson Report when he said “this should be seen as an opportunity for creative thinking about trade enforcement.”

Perhaps it is, but we don’t need to get fancy on this issue. All we need is for President Obama to tell the Chinese that they need us more than we need them. And all he has to say is “175.6%.” The clever officials in Beijing will not need interpreters to figure out what that means.

FORBES

China Is 175.6% Dependent on the U.S. - Forbes

The surplus money is used in growth.

EU USA are biggest importer of Chinese food, so they like "garbage"? seems only indian know the truth?

The whole world know indian are loser, more than 1 million indian childeren die every year, poor indian cann't afford chinese "garbage", what a pity!!

In China, 200 million ppl live on less than $1.25/day, 44o million less than$2/day, 700 million less than $3/day and over 1000 million less than $4/day.
91% Chinese live on less than the bottom of 9% US population's wealth.
The pot calling the kettle black .

 

[sweetgrape]

China Is 175.6% Dependent on the U.S.

The Chinese economy increased its dependence on the United States last year according to recently released trade figures from Beijing and Washington.

China’s overall trade surplus in 2011 was $155.1 billion, according to the Ministry of Commerce.

And how much of that surplus is related to America? Commerce Department figures show that, through the first 11 months of last year, China’s trade surplus against the United States was $272.3 billion. That’s up from $252.4 billion for the same period in 2010, a 7.9% increase.

The Commerce Department has not released the December trade number yet, and some are predicting that China’s surplus against us will top $300 billion when all the figures are in. Yet let’s assume, merely to be conservative, that China’s December surplus is zero. If December’s surplus is zero, then 175.6% of China’s overall trade surplus last year related to sales to the United States. That’s up from full-year figures for the three preceding years: 149.2% for 2010, 115.7% for 2009, and 90.1% for 2008.

Notice a trend? The Chinese economy is becoming even more hooked on selling things to the United States. Why the big jump last year? Because orders from the 27-nation European Union for Chinese goods collapsed. And if Europe falls apart this year—increasingly likely—China will become even more reliant on the American consumer.

President Obama, in his State of the Union message on Tuesday, is expected to announce the creation of a China trade task force that will combine officials from the Treasury, Commerce, and Energy Departments as well as the U.S. Trade Representative’s office.

Is the concept a good one? Ted Alden of the Council on Foreign Relations praised the idea in the January 12 Nelson Report when he said “this should be seen as an opportunity for creative thinking about trade enforcement.”

Perhaps it is, but we don’t need to get fancy on this issue. All we need is for President Obama to tell the Chinese that they need us more than we need them. And all he has to say is “175.6%.” The clever officials in Beijing will not need interpreters to figure out what that means.

FORBES

China Is 175.6% Dependent on the U.S. - Forbes

The surplus money is used in growth.



In China, 200 million ppl live on less than $1.25/day, 44o million less than$2/day, 700 million less than $3/day and over 1000 million less than $4/day.
91% Chinese live on less than the bottom of 9% US population's wealth.
The pot calling the kettle black .

So, in what do you think suplus money should be used? I know you have huge trade dificit too, you post these just to prove that other country growth is depend on india?

And, If just china depend on USA, why USA don't cut the trade with China? I don't think you indian like you with low IQ can understand these, most of indian are superficial, all these can explain why they are still poor after independence, all president are impotent, can't lead indian ot of poverty, a biggest loser country!!!

 

[Truth Finder]

So, in what do you think suplus money should be used? I know you have huge trade dificit too, you post these just to prove that other country growth is depend on india?

And, If just china depend on USA, why USA don't cut the trade with China? I don't think you indian like you with low IQ can understand these, most of indian are superficial, all these can explain why they are still poor after independence, all president are impotent, can't lead indian ot of poverty, a biggest loser country!!!

You have no idea of India. The colored line suggests that. India is run by the PM, not by The President.

 

[shuttler]

We have more than $3 trillion current assets on our balance sheet not to meniton we are holding some of the biggest mineral reserves in the world.
7.6% growth in the first half year meets our expectations
It is good for us to apply pressure on the brake, re-calibrating ourselves for the next economic surge on improved quality