The views expressed in any article published in this blog are the author's own and do not necessarily reflect the views of Joseph Foster or Bob Lupoli.

Thursday, February 16, 2012

Roubini: Chinese Economic Slowdown Unmistakable!

Joe: as you know, I have been saying for some time now China is way overrated, just as Japan was supposed to take over the world in the 80’s it’s now China that is causing the panic. I maintain China has been reporting false statistics and is a system that cheats anyone that is not a communist or a member of the party. Everyone seems to have forgotten how blatant, Communist Russia’s lied on all sorts of economic statistics and medical metrics as well – number of hospitals beds per person and so forth. A couple of key paragraphs from the article below. -Bob

Austerity. China. The HousingMarket. The Middle East.

Four reasons to stay gloomy about the global economy.

Second, there is now evidence of weakening performance in China and the rest of Asia. In China, the economic slowdown under way is unmistakable. Export growth is down sharply, turning negative vis-à-vis the eurozone’s periphery. Import growth, a sign of future exports, has also fallen.

Similarly, Chinese residential investment and commercial real-estate activity are slowing sharply as home prices start to fall. Infrastructure investment is down as well, with many high-speed railway projects on hold and local governments and special-purpose vehicles struggling to obtain financing amid tightening credit conditions and lower revenues from land sales.

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