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China GDP Growth Slows To A Measly 9.5%

From an envious Wall Street Journal:

China’s Growth Is Steady Amid Inflation Battle

JULY 13, 2011

BEIJING—China reported surprisingly robust economic growth for the second quarter, a day after Premier Wen Jiabao signaled the continuation of anti-inflation policies that have fueled concerns about the potential for a slowdown.

Gross domestic product in the world’s No. 2 economy expanded 9.5% in the April-June quarter from the same period a year ago, the National Bureau of Statistics reported early Wednesday in Beijing. That was slightly slower than the 9.7% in the first quarter, but slightly higher than economists’ expectations.

We should have it so rough.

Measured against output in the first quarter, China’s GDP growth actually accelerated slightly in the April-June period, the statistics bureau said…

Beijing has been struggling to balance its fight against inflation, which has fueled public discontent and potentially dangerous bubbles in housing prices, against fears that the economy—a major driver of global growth—could slow too sharply

Mr. Wen said on Tuesday that the "overall direction of policy" will remain unchanged. His comments came as the central bank reported a jump in new bank lending last month that underscored the continuing pressures driving inflation

Of course in our country the problem is not enough new bank lending.

But the thrust of Mr. Wen’s statement was continued concern about inflation. He reiterated several measures to cool prices, including controlling the money supply, encouraging the production of agricultural goods and increasing the supply of pork, for which prices have recently jumped. He also pledged to keep implementing restrictions on the property sector, which have already started to bring down prices in major cities…

It’s funny, but we have inflation even though our GDP is currently growing at a rate under 2%.

This article was posted by Steve on Wednesday, July 13th, 2011. Comments are currently closed.

7 Responses to “China GDP Growth Slows To A Measly 9.5%”

  1. GetBackJack says:

    “Still, did you ever think you would live to see the day when the capitalist running dogs at the Wall Street Journal would be so envious of a ‘communist’ country?”

    Yes. When the Soviets chose to abandon their state central planning strategies and “take up capitalism” I really did say to those around me it would be a disaster for the Capitalist West because …. the Soviets did not have the moral, ethical and experiential foundations as to “how” and Why” free markets and capital are exploited to a Nation’s good.

    What I predicted has come true in spades.

    I predicted that the Kremlin, fed up with the moralistic high high handed rhetoric of Washington and Wall Street on the virtues of capitalism (even as their intelligence services knew all too well the skull duggery, back stabbing criminal ways of many capitalist businesses they had to track) … would stand up and declare “You want Capitalism? We’ll give you Capitalism like you’ve never seen!”

    And that’s exactly what they did. Massive, brutish, cruel, crude, toe-to-toe no holds barred raw naked Capitalism against which the West has no defense.

    Yes … Still, did you ever think you would live to see the day when the capitalist running dogs at the Wall Street Journal would be so envious of a ‘communist’ country?

    Yes, I did.

    Just as I predicted the logical outcome of Red China’s “One Child” policies would result in a billion young men with raging hormones and no girls in sight. Which is very very bad news.

  2. proreason says:

    Well, it looks like Red China will inevitable leapfrog the world’s number 1 and number 2 economies….Japan and the US.

    Oh wait.

    Japan never did leapfrog the US as we were told was inevitable in the 70’s and 80’s, did it?

    Well, this time the Harvard seers will certainly be correct. Just look at their track record with the the takeover of the world by communism, the brilliance of the Cuban experiment, the population bomb, global cooling, global warming, peak oil, Keynsian economics, the benefits of welfare and projections for medicare costs.

    They rarely make a mistake.

    • GetBackJack says:

      http://www.businessinsider.com/chinese-ghost-cities-2011-5 — something is very very wrong with (a) this “Report”, (b) the solons who make these ridiculous projections and (c) whatever the hell these pictures represent.

      Other than the amount of capital Congress caused to drain from us to another nation.

    • proreason says:

      GBJ…you probably know that government spending counts in GDP and GNP. So if China spends billions on ghost cities that will never be used, it adds to GDP, even though it adds no real economic value to the country.

      Similarly, porkulus added to US GDP, even though it was the equivalent of flushing money down the toilet.

      But, it’s probably inevitable that at some point in the near future, china will spend more money than the US does, at which point the idiots who write for the Slimes will declare that it’s economy is now #1.

    • tranquil.night says:

      So this is what Utopia looks like.

    • GetBackJack says:

      Indeed, kind sir. I am reminded of the addlepated residents of August Bank Holiday Island commonwealth in competition with the citizens of San Francisco who swore allegiance to Emperor Norton and believed his flax scip of more value than gold nuggets of the day. It all looked good on paper, but had no more validity than smoke.

      In other words, as crazy as someone who licks lead paint as a hobby.

  3. tranquil.night says:

    It must be nice to have practically a forced labor class, on top of the 1/3rd of the population still living in the Dark Ages about whom you basically couldn’t give a turd (except when they start breeding too much and causing unrest). Somewhere, Tom Friedman is reading this and messing his finely creased pants.

    Clearly the ChiComs like totally are putting those dirty Western capitalists to shame in how to run a sovereign.

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