China’s Growth Picks Up Speed but Raises Concerns (stimulus stokes asset bubbles)

NYT ^ | 10/23/09 | ANDREW JACOBS and BETTINA WASSENER

[TigerLikesRooster]

China’s Growth Picks Up Speed but Raises Concerns

By ANDREW JACOBS and BETTINA WASSENER

BEIJING — The Chinese economy, already one of the fastest-growing in the world, picked up more speed during the third quarter, adding fuel to a debate over whether, and when, the Chinese authorities might start reining in stimulus measures.

Prompted by vastly increased bank lending, generous government support for exports and a $585 billion stimulus package that is spurring a dizzying array of building projects, the Chinese economy grew 8.9 percent from July to September, up from the year-ago period, according to government figures released Thursday.

Separate economic reports on Thursday also showed that retail sales and industrial output rose markedly in September, helping to offset the slump in exports, a mainstay of the Chinese economy, that has continued unabated for 11 months.

[TigerLikesRooster]

China following U.S. footsteps. To keep economy from going into full blown recession, they pump money into the market, creating multiple asset bubbles.

[TigerLikesRooster]

Ping!

[pallis]

China’s tax policies are working better than ours.

[G-Man 1]

They must be buying their own crap. There is a record number of container ships being parked.