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The Economic Observer: World feel the pain of economic slowdown in China - China's economy, fin by big tree
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The Economic Observer: World feel the pain of economic slowdown in China - China's economy, fin by BIG TREE
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| Article Posted: 11/16/2010 |
| Article Views: 32 |
| Articles Written: 1033 - MORE ARTICLES FROM THIS AUTHOR |
| Word Count: 729 |
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The Economic Observer: World feel the pain of economic slowdown in China - China's economy, fin |
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Business,Business News,Business Opportunities
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China's booming economy is being faster than most people expected the speed of cooling, in developed countries experienced financial crisis, China's demand for those who wish to help maintain steady growth in the global economy people, this is nothing is a blow.
Scavengers construction site in Shanghai China's National Bureau of Statistics said yesterday, the third-quarter economic growth of 9% a year earlier, slower than the second quarter, 10.1% and 10.6% in the first quarter. China ended the third quarter of this year's average economic growth rate of 9.9%, given the momentum of a slowdown in economic growth continues, China's economic growth rate this year may be the first time since 2002, less than 10%.
National Bureau of Statistics spokesman Li Chao told reporters that the global financial crisis has in many countries on the global investors and caused a severe blow to consumer confidence, China is no exception.
Since September has twice cut interest rates in China since the recent bad economic numbers than expected According to Has the potential to accelerate the introduction of more government stimulus measures, in order to continue economic growth. Many economists now expect China's economic growth rate next year will be further reduced to 8%, it will be China since the Asian financial crisis, the lowest level.
Machinery manufacturers from Germany, Japan, construction equipment manufacturers, to suppliers of raw materials around the world, those from China's rapid economic growth to benefit the companies have felt the painful experience. Commodity prices fell sharply in recent weeks because of the market prospects for economic growth of China and the United States and Japan and other developed countries are not very optimistic about prospects for the market demand.
Highlighted China's economic slowdown, although in recent years has achieved remarkable economic growth, but the size of the Chinese economy is still not enough to make it alone to promote global economic growth. China's per capita income ranks only 100th in the world, market exchange rates, China's economy accounts for only 6% of the global economy. Even beloved by many economists to measure the purchasing power parity index, China's economic share in the global economy, only 10%.
Peterson Institute for International Economics (PetersonInstituteofInternationalEconomics) Nicholas? Lardy (NicholasLardy) said that China will become a driving factor in the world economy, but a greater impact on the world economy is that 90% of the rest of the economy. In addition, although China's financial system remains largely unaffected the current credit crisis, but China clearly has its own problems. Radi said that all aspects of moving in is not conducive to economic growth direction.
With the United States and Europe, the decline in demand in overseas markets, export growth momentum is waning fast. At a time when the domestic real estate market downturn has an impact on economic growth, the other negative factors. While investment in infrastructure continues to grow rapidly, and consumer spending has been maintained good momentum, but the overall economic growth still seems likely to slow. It has to be attributed to economic growth rates in August during the Beijing Olympics the temporary closing of a large number of factories, but the economic growth continued to slow in September is that the factors that affect economic growth more widely.
, Of course, by world standards in China's economic growth rate remains very high and likely to continue at that level. However, domestic demand is still not enough to replace the U.S. market on the Chinese economy a huge impetus. 1.3 billion people in China last year, the spending of about 1.2 trillion dollars, while the United States 300 million people spending reached 9.7 trillion U.S. dollars.
China remains a major net exporter: from January to September this year, for example, China's exports than imports of 1,810 million U.S. dollars.
Morgan Stanley (MorganStanley) Asia Chairman Stephen? Roach (StephenRoach) said that, not only the economies of scale, China is still a relatively poor country, the China factor to the weakening of the negative impact of the current crisis, the role can be a starting point, but not contribute significantly. I am an expert from China Manufacturers, usually analyzes all kind of industries situation, such as used propane refrigerator , junbo.
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