The Coming Black Swan from China.

reply to post by Cancerwarrior

Just found this on YT. Thought it belonged here. Hope you find interesting James Corbett's remarks about the supposed GDP growth rate in China.

reply to post by aboutface


He said that the premier of China is calling the numbers "manmade" according to leaked diplomatic cables. And that was back in 2007. They have likely been doing it for longer.

Thanks for the video.

www.terradaily.com...
QUOTE:
China's economy grew 7.5 percent year-on-year in April-June, slowing from the first quarter's 7.7 percent. This in turn was worse than 7.9 percent in the final three months of 2012.

The economy is a key engine of global growth but last year recorded its worst performance since 1999, expanding 7.8 percent.

China's growth model has long been based on taking advantage of the country's cheap and abundant labour to manufacture products for export, alongside credit-fuelled domestic investment to develop infrastructure.

Now, though, the government says the situation is unsustainable and the growth model should be rebalanced towards consumer demand. END QUOTE:

www.terradaily.com...
QUOTE:
China orders firms to cut capacity as economy slows

China has ordered companies in 19 sectors including cement and steel to slash production capacity as growth in the world's second largest economy slows.

Beijing's industry ministry ordered around 1,300 firms to shut down outdated facilities by September and eliminate excess capacity by year-end, state media said Friday.
END QUOTE:

The new leadership under President Xi and Premier Li Keqiang appears willing to accept lower growth in hopes that weaning the country off its addiction to investment will ultimately result in stable and sustainable growth.

China orders audit of government debt: agency
Beijing (AFP) July 28, 2013 - China has called for an audit of all government debt, the national auditor announced Sunday, as concerns grow over official liabilities in the world's second-largest economy.

www.spacedaily.com...

The Chinese coastguard entered waters disputed with Japan for the first time Friday, straining an already tense situation as Tokyo mulled plans to establish a US Marines-style force to protect its islands.

Four vessels spent three hours in the territorial waters of a Tokyo-controlled archipelago, where they traded warnings with their Japanese counterparts.

The move -- by vessels whose crews were likely to be armed, according to academics -- marks an upping of the ante in the blistering row over ownership of the Senkakus, which Beijing claims and calls the Diaoyus.
end quote:

China has managed to stir up just about everyone on their side of the Pacific.....SO.....It will be interesting how the global situation plays out over the next few years.....However.....I would not under estimate their ability to fix their problems regardless. China is very big on the idea of "welfare of the state" regardless of the populace...Look at their mobile death vans for taking care of problem children/those who buck the state..The Expats that I spoke to have said China's good deals ended almost two years ago and cost have sky rocketed.

reply to post by 727Sky

China has ordered companies in 19 sectors including cement and steel to slash production capacity as growth in the world's second largest economy slows.

That news in and of itself should be enough to signal their economy is going to slow down quite a bit.

What I wonder is, will this slowing down of their economy effect the global markets in ways that are unpredictable? Or be the catalyst to start the dominoes falling.

The Chinese coastguard entered waters disputed with Japan for the first time Friday, straining an already tense situation as Tokyo mulled plans to establish a US Marines-style force to protect its islands.

It seems neither of them want to back down over the islands issue.

It's funny how bad economics seem to make war and talk of war more prevalent. Human nature I guess.