Wednesday, July 13, 2011


As I have intimated here, there must be entire warehouse complexes where Chinese "exports" reside.

China’s economy and industrial output expanded more than analysts predicted, driving up stocks across Asia as the nation maintains momentum after monetary tightening to cool inflation.
Gross domestic product rose 9.5 percent in the second quarter from a year earlier, the statistics bureau said in Beijing today, after a 9.7 percent gain in the previous three months. The median estimate was 9.3 percent in a Bloomberg News survey of 18 economists.
Industrial output advanced 15.1 percent in June, the most since May 2010, even after the central bank boosted lending rates five times since mid-October and lifted bank reserve requirements to a record. Premier Wen Jiabao said yesterday that stabilizing prices remains the top priority, after food costs soared in June.
“This data should dispel concerns over a hard landing in China,” said Wendy Liu, a Hong Kong-based analyst with Royal Bank of Scotland.

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