This year’s Two Sessions—the annual meetings of the legislative National People’s Congress (NPC) and the advisory Chinese People’s Political Consultative Conference (CPPCC)—are taking place amid grim economic conditions. The...
A growth rate of under 8 percent predicted for China in 2009 isn’t necessarily what will cause a flare-up in social unrest in the country but rather an increase in unemployment. “The two aren’t perfectly...
In such a time of global financial instability, why might the People’s Bank of China, for the first time in six years, decreased its benchmark lending rate by 27 basis points to 7.2%? In addition to the more immediate steps the...
From the Globe and Mail: The World Bank has come up with a new way to look at the relative clout of economies, and it turns out most previous estimates have exaggerated the size of China’s and India’s economies by roughly 40 per cent. The new, and smaller, China still ranks behind the United States […]
From Xinhua, via Australian News: China is expected to see a fall in its GDP figure this year with the growth rate predicted at nine percent, the lowest for the past four years. Liu Shijin, deputy director of the Development Research Centre of the State Council, a government think tank, said Tuesday that driven by […]
From The National Bureau of Economic Research: “While the Foreign Invested Enterprise sub-economy is still only 20 percent of China’s total economy, it nonetheless accounts for over 40 percent of China’s recent economic growth if FDI inflows level off (as appears to have happened in 2005), the sustainability of Chinese growth in the 7-10 percent […]
From BBC News: The Chinese economy is likely to grow even faster than previously thought this year, according to the Asian Development Bank (ADB). The body has upped its forecast for China’s growth rate to 10.4%, from its previous prediction of 9.5%. China’s growth shows no sign of slowing down despite government efforts to cool […]
From The Knight Ridder Newspapers: If Japan’s development was fast, and South Korea’s was even faster, then China’s rise is the fastest. China on Tuesday reported that its economy is much bigger when its share of the growing services sector is estimated more accurately. As a result, China replaced Italy as the world’s sixth-largest economy. […]
From The New York Times: Many economists have long suspected that official government statistics were a slighter shadow of reality. With China’s announcement on Monday that its economy was far bigger than previously estimated, economists and financial prognosticators are scrambling to rethink their assessment of China’s rise and its role on the world stage. China’s […]
From The Business – Europe’s Global Business News: China’s explosive growth is testing the managerial competence of the relatively new leadership in Beijing. Some of the problems are the result of poor planning; others stem from the mainland’s expansion rate, which, despite attempts to cool it, still tops 9%. The population is ageing, the number […]
From Asia Times Online: How has China achieved this miracle? Economists studying China face thorny theoretical and empirical issues, mostly derived from the country’s years of central planning and strict government control of many industries, which tend to distort prices and misallocate resources. In addition, since the Chinese national accounting system differs from the systems […]
From AP, via the Washington Post: China should keep up its strong economic expansion over the next five years, with annual growth of 8 percent driven by abundant labor and a big domestic market, the government said Thursday. The projected growth is below the 9.5 percent reported for 2004 – the country’s fastest expansion in […]
From Xinhuanet: Expecting another year of grain yield shortfall, China will make efforts to fill the gap by enhancing the productivity of its farmland and increasing grain import, a financial official said Monday. Chen Xiwen, deputy director of the Office of the Central Financial Work Leading Group, said at a press conference in Beijing that […]
From Asia Times Online: “Despite the government’s efforts to cool down the scorching economy, China’s gross domestic product (GDP) totaled 13.65 trillion yuan (US$1.65 trillion) in 2004, jumping unexpectedly by 9.5% year-on-year, the National Bureau of Statistics (NBS) said here on Tuesday. Record levels of exports and a surge in farm production and retail sales […]
From Economist.com: China’s economy re-accelerated in the last quarter of 2004, despite official efforts to curb rampant investment. Is it growing too fast to keep its balance? On Tuesday, January 25th, the Chinese authorities sheepishly confessed that the economy beat expectations last year, growing by 9.5%. It finished the year particularly strongly, growing at an […]
From TBO.com: “China’s economy expanded at its fastest pace in eight years in 2004, growing at an annual rate of 9.5 percent despite efforts to slow its blistering pace in order to avert inflation, the government said Tuesday. The figures exceeded economists’ forecasts and were well above the official target of 8 percent.” Australia’s Herald […]
This is an editorial article in LA Times today: “China’s struggle to slow — without crashing — its overheated economy is of vital interest well beyond the Great Wall. The economic boom is evident in the hundreds of construction cranes towering over Shanghai and in commodity prices worldwide that have been driven higher by China’s […]
From The Observer, Heather Stewart wrote: ‘China is a sleeping giant. And when she awakes, she shall astonish the world.’ The truth of Napoleon’s warning, made more than two centuries ago, is beginning to resonate in the world’s richest nations. When oil prices shot up above $50 a barrel earlier this year, it was the […]
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