Posted on 07/15/2009 7:34:09 PM PDT by maccaca
BEIJING -- China's economy accelerated in the second quarter amid huge stimulus spending, expanding by 7.9 percent from a year earlier as retail sales and industrial output grew strongly, data showed Thursday. The growth rate, reported by the National Bureau of Statistics, was up from 6.1 percent in the first quarter. The government's growth target for this year is 8 percent. Consumer prices in June fell 1.7 percent from a year earlier, data showed, giving Beijing a freer hand to carry out its 4 trillion yuan ($586 billion) stimulus without a danger of adding to pressure for prices to rise. Many analysts expect China to be the first major country to emerge from the worst global economic slump since the 1930s. The government is trying to use its stimulus to insulate China from the global downturn by pumping money into the economy through higher spending on public works construction.
(Excerpt) Read more at forbes.com ...
and 2 new coal plants go online every week in China.
See an energy/production correlation?
Here’s an article and thread that I think has a good grasp on the Chinese economy and, more particularly, their balance of payments. There are a variety of views, so you may reach your own conclusions: http://blogs.cfr.org/setser/2009/07/13/will-the-chinese-keep-saving/#more-5906
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