CN Economy Is Neither a Fake Nor in a Bubble: Eco

choi

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My comment: (1) is a summary and (2), which is kind of boring, explains the
rationale. If you do not have time, read (1). If you want to know why
Economist has been consistently said so for the past month, read (2).

(1) China's battered image   Bears in a China shop: The “peaceful rise”
hits some turbulence; but China’s economy is not about to crash

http://www.economist.com/opinion/displaystory.cfm?story_id=15271181

(2) China's economy  Not just another fake: The similarities between China
today and Japan in the 1980s may look ominous. But China’s boom is unlikely
to give way to prolonged slump. Economist, Jan. 16, 2010.
http://www.economist.com/businessfinance/displaystory.cfm?story_id=15330821


------------See also
James Kynge, China turns its gaze inward for future growth. Financial Times,
Jan. 19, 2010.
http://www.ft.com/cms/s/0/1ba24bcc-049a-11df-8603-00144feabdc0.html?nclick_check=1

Note:
(a) China Confidential is a newspaper which Financial Times publishes in
China only.
(b) Shuangliu 成都市双流县
(c) Jingzhou 湖北省荆州
(d) Heyuan 广东省河源市
(e) Shouguang 寿光市 (山东省潍坊市下辖的一个县级市)
(f) Jinjiang 福建省泉州市晋江市
(g) Fangchenggang 广西省防城港


---------------But see
(1) Shiyin Chen and Valarie Tan, Rogers Says Shanghai, Hong Kong Property in
Bubble (Update1), Bloomberg, Jan. 19, 2010.
http://www.businessweek.com/news/2010-01-19/rogers-says-shanghai-hong-kong-property-in-bubble-update1-.html

(2) Andrew Batson, China Seeks To Temper Boom, Stirs Growth Fears. Wall
Street Jurnal, Jan. 21, 2010.
http://online.wsj.com/article/SB20001424052748703405704575014703152997616.html

Quote:

"As the government gradually withdraws that stimulus, private businesses
will need to spend more if growth is to stay robust.

"Housing is the best hope for sustaining the gains: According to the World
Bank, construction has been the main driver of private-sector investment in
the past year.

"Other businesses remain reluctant to expand given weakness in the global
economy and excess capacity in domestic industries.

My comment:
(a) Ozeki 大関 or 尾関 (depending on if "O" is a long vowel--the former--or
short vowel --the later)
(b) Please read the quotation above and the second half of the report
starting "Koyo Ozeki." Unfortunately the online version, unlike the print,
does nto include an illustration that shows:
(i) Yuan lending (panel 1),
(ii) New floor space started
(panel 2), and
(iii) Urban average property prices (panel 3) all shot to the sky in 2009;

as well as
(iv) Years of income required to buy a 1,075-square-foot apartment (panel 4;
Beijing 15 and 17.5 for 2008 and 09 respectively; Shanghai 10 and 12 for
2008 and 09 respectively).

About (iv): whether housing is more expensive in Beijing or Shanghaiese make
more money than Beijingers is unclear from this report.

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※ 修改:．Fenlix 于 Oct  3 14:29:03 修改本文．[FROM: 128.111.0.0]