China's economy grows 7.9 percent in 2nd quarter

forbes ^

[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.

[Secret Agent Man]

and 2 new coal plants go online every week in China.

See an energy/production correlation?

[Torquay]

I have been in Hong Kong and Shanghai recently with work. I can tell you first hand that this is not a lie. China's economy is on steroids.

I thought when I was in Asia previously - Seoul, SK working there as a consultant for their largest financial institution in the early 2000's that nothing compared as far as a fast paced and strong economy in this part of the world. However, I was wrong. In fact, I think the percentage of growth in china is actually much higher than what is being reported here. Connect the dots and you will understand what is happening!

[Praxeologue]

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