Posted on 04/15/2010 1:13:53 PM PDT by mojito
China's economy accelerated more than expected in the first quarter, while consumer and wholesale inflation -- though mixed -- indicated a broadly rising trend, stoking further concerns of economic overheating in the world's third-largest economy.
Gross domestic product rose 11.9% from the year-ago period, accelerating from 10.7% in the last quarter of 2009. The expansion was the fastest in nearly three years.
On the inflation front, March's consumer price index was 2.4% higher than a year earlier, easing slightly from a 2.7% rise in February.
Dow Jones Newswires and Reuters had each published surveys expecting a 2.6% rise in the CPI.
Meanwhile wholesale prices for the month were up 5.9% year-on-year, compared to a 5.4% rise in February.
"There are signs of overheating," said Stephen Green, Standard Chartered's head of Greater China research in Shanghai.
(Excerpt) Read more at marketwatch.com ...
Perhaps merchantilism and protectionism do work.
James Chanos, who uncovered the Enron scam, says China is another scam about to burst. Chanos is a smart guy.
“scam”
How many more “empty cities” and “empty malls” did they build?
Endless office buildings, factories, malls and other crap not being used.
BTTT
Disclaimer: Opinions posted on Free Republic are those of the individual posters and do not necessarily represent the opinion of Free Republic or its management. All materials posted herein are protected by copyright law and the exemption for fair use of copyrighted works.