China - Economic Data & News 03 (Jun 09 - Jan 10)

Re: China - Economic Data & News 3 (Jun 09 - Jan 10)

Postby kennynah » Thu Jan 21, 2010 1:46 pm

indeed, those 三四线城市 are where “月光族” women are as well... they dont just "work" in BJ or SH...many of them dont make the cut for these 2 big cities.. no choice move to the smaller cities..those 三四线城市
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Re: China - Economic Data & News 3 (Jun 09 - Jan 10)

Postby winston » Thu Jan 21, 2010 8:27 pm

Never “Short” a Country That Has $2 Trillion in Cash By Keith Fitz-Gerald, Money Morning

Never short a country with $2.3 trillion in currency reserves.

( I'm very disappointed with this guy. He does not even know what's currency reserves. A foreign currency reserve ALWAYS has a corresponding local currency liability of the same amount. Therefore, a country with a US$2.3t of US$ reserve is not necessary richer than a country with only US$200m of US$ reserve )


I'm well aware that bond king Bill Gross has been sounding the alarm about a China bubble, and that Forbes magazine is predicting a major meltdown by the Asian giant. I've also heard all about noted short-seller James S. Chanos - who made his name by correctly calling the Enron Corp. demise - who recently described China as "Dubai times 1,000 - or worse."

http://moneymorning.com/2010/01/21/inve ... n-china-6/
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Re: China - Economic Data & News 3 (Jun 09 - Jan 10)

Postby kennynah » Thu Jan 21, 2010 9:01 pm

( I'm very disappointed with this guy. He does not even know what's currency reserves. A foreign currency reserve ALWAYS has a corresponding local currency liability of the same amount. Therefore, a country with a US$2.3t of US$ reserve is not necessary richer than a country with only US$200m of US$ reserve )


W : is the above, your comment?
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Re: China - Economic Data & News 3 (Jun 09 - Jan 10)

Postby winston » Thu Jan 21, 2010 9:15 pm

Yes :D
It's all about "how much you made when you were right" & "how little you lost when you were wrong"
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Re: China - Economic Data & News 3 (Jun 09 - Jan 10)

Postby kennynah » Thu Jan 21, 2010 9:26 pm

ok...so, i dont understand what you mean...

A foreign currency reserve ALWAYS has a corresponding local currency liability of the same amount. Therefore, a country with a US$2.3t of US$ reserve is not necessary richer than a country with only US$200m of US$ reserve

can u please educate me? thanks...
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Re: China - Economic Data & News 3 (Jun 09 - Jan 10)

Postby winston » Thu Jan 21, 2010 9:46 pm

Maybe an example would be easier:-

Let's assume that you have US$2000 in US$ Cash. At the same time, you have a Sin$ debt of Sin$2800 ( US$2000 @ exchange rate of 1.4 ).

Are you richer than someone who has $50 in US$ Cash but who has no Sin$ debt ?

Of course not...

Just because you have more US$ Cash, it does not mean that you are richer than someone who has less US$.

US$ reserve are just money that you have in US$. However, you still have a corresponding local currency debt that you must pay.

In China's case, they have US$2.3t in US$. However, China still has to pay US$2.3t to those Chinese exporters who exported their goods to the US. Those Chinese exporters would be paid in Renmimbi though. And the net outcome adds to zero.
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Re: China - Economic Data & News 3 (Jun 09 - Jan 10)

Postby winston » Fri Jan 22, 2010 11:49 am

I think managed economies are always better than free markets. They always exceed market expectation :D

=================================================

DJ China Creates 11.02 Mln Jobs In Urban Areas In 2009 - Xinhua


DOW JONES NEWSWIRES

China created 11.02 million new jobs in urban areas in 2009, topping the government's goal of 9 million, Xinhua News Agency reported Friday, citing the Ministry of Human Resources and Social Security.

The figure was about 22.4% higher than the government's target set in March last year, ministry spokesman Yin Chengji said during a news conference, according to the report.

Around 5.14 million laid-off workers were re-employed last year, exceeding the goal of 5 million, the report said.

The urban unemployment rate stood at 4.3%, with 9.21 million people registered as unemployed, Xinhua said.

Source: Dow Jones Newswire
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Re: China - Economic Data & News 3 (Jun 09 - Jan 10)

Postby millionairemind » Fri Jan 22, 2010 6:51 pm

January 22, 2010, 3.15 pm (Singapore time)

Beijing per capita GDP tops US$10,000 in 2009


BEIJING - Average living standards in Beijing improved in 2009, with per capita gross domestic product topping US$10,000 for the first time, official data showed on Friday.

The capital's economy grew 10.1 per cent on-year to 1.19 trillion yuan (US$174.3 billion) - exceeding the national GDP growth rate of 8.7 per cent - according to figures published on the Beijing Bureau of Statistics website.

This means per capita GDP for the city's 17.55 million residents reached 68,788 yuan, or US$10,077, the bureau said.

'The breakthrough is a milestone for Beijing,' bureau deputy director Yu Xiuqin was quoted by state media as saying.

China's economy expanded by 8.7 per cent in 2009 after the government went on a four-trillion-yuan spending spree and bank lending nearly doubled from 2008, according to official data released on Thursday.

Average annual disposable income for Beijing's city dwellers rose 8.1 per cent to US$3,915, while for rural residents around the capital, the figure reached US$1,755, up 11.5 per cent on the previous year.

Average living standards in Beijing still lag behind those in southern Guangzhou and Shanghai, where per capita GDP reached US$11,900 and US$10,529 respectively in 2008, according to latest official figures. -- AFP
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Re: China - Economic Data & News 3 (Jun 09 - Jan 10)

Postby millionairemind » Sun Jan 24, 2010 1:32 pm

There goes the rally :P

Jan 24, 2010
China acts to avert overheating
BEIJING - CHINA is expected to further clamp down on rampant lending in the months ahead and possibly even raise interest rates to prevent its blistering economy from overheating, analysts said.

The prospects for a fiscal tightening have increased following the release on Thursday of data showing the world's third-largest economy expanded by 8.7 per cent in 2009 and 10.7 per cent in the fourth quarter, analysts said.

The fastest quarterly growth rate in two years and the biggest rise in inflation in 13 months has increased the chances of further tightening measures as Beijing seeks to maintain steady economic growth, analysts said.

'We expect inflation to continue rising throughout this year, with additional tightening steps including rate hikes,' said Citigroup economists Ken Peng and Shen Minggao in a research report.

Beijing has already moved this month to calm growing inflationary pressures and the threat of asset bubbles caused by soaraway bank lending, which last year nearly doubled from 2008.

The People's Bank of China on Thursday raised the interest rate on its benchmark three-month treasury bills for the second time in two weeks in a bid to deter new lending. It followed an earlier move on its benchmark one-year treasury bills. -- AFP
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Re: China - Economic Data & News 3 (Jun 09 - Jan 10)

Postby winston » Sun Jan 24, 2010 4:04 pm

I guess housing, garlic, taxi ( RMB 10 to RMB 12 in SH ), petrol, electricity, water etc. are not included in the basket to measure inflation. Wonder what's in the basket ? Socks ? Singlets ? Slippers ? Newspaper ?


China Inflation May Exceed 5%, Credit Suisse Says (Update2)

Jan. 23 (Bloomberg) -- China’s inflation rate may accelerate to more than 5 percent by the end of the year, as government measures to cool lending will have little effect, said Tao Dong, chief Asia-Pacific economist at Credit Suisse AG.

“The reserve-ratio hike will have no real effect on draining liquidity, it’s only a symbolic measure,” Tao said at a conference in Shanghai today. There may be a “rush of interest-rate increases” at the end of the year, he said.

“I do agree interest rates are more likely to be raised later rather than sooner,” said Jeremy Goldwyn, who oversees business development in Asia for London-based Sucden Financial Ltd. “I think most authorities would continue to try to keep things going rather than to risk killing it off too early.”

Tao also said he expects the yuan to appreciate as China’s domestic demand grows. “In five years, when domestic consumption may really pick up, we may see the yuan appreciate to 4 yuan to the dollar,” Tao said.

http://www.bloomberg.com/apps/news?pid= ... cWZMlYw0ec
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