Everything You Always Wanted to Know About China's Economy
A good friend of mine who is an executive at a large American Bank that owns a good-sized chunk of a large China bank, sent me this report on China's economy from the World Bank. He said that "his" bankers think very highly of this report, as do I.
Its highlights, as set forth on the World Bank's own website:
The impact of the international financial and economic turmoil on China’s economy has been manageable so far, but is expected to intensify. Domestic factors have already made China’s economy slow down in 2008, coming off its high pace in 2007. Against this background, the authorities have adopted a more expansionary macro economic stance, and higher government-influenced spending is going to play a key role in 2009. The stimulus policies provide China with a good opportunity to rebalance its economy in line with the objectives of the 11th five-year plan.
Click here for the full report in pdf format. Good stuff.
What do you think?
Comments (4)
Read through and enter the discussion by using the form at the endSol Rosenberg - November 28, 2008 8:38 PM
Large American bank that has a stake in a large Chinese bank = Bank of America. AKA the bank that has seen its stock drop 70%, needed a $25 billion taxpayer bailout, and is lining up for more government cheese. If you're going to use an appeal to authority, at least use a respectable authority.
corbett - November 28, 2008 11:48 PM
I don't particularly like dark and dreary mysteries with no happy ending, but this is an exception.
Fons Tuinstra - November 29, 2008 12:16 AM
It is indeed a very thorough overview, while most earlier reports had the tendency of first picking a direction (be it gloomy or optimistic on China's economy) and then get the facts together.
This reports seems to suggest that, yes, there are huge problems, but they also seem manageable.
CHINAYOUREN - November 29, 2008 9:20 AM
Very useful link, thanks for sharing.