Bank predicts 8.5% growth in 2013 !!!!!

[grahamhgreen]

- IN CHINA -

Can we please get out of the costly trade agreements now?

NO TO TPP!

SHANGHAI - Economic growth in China will be about 8.5 percent this year, with domestic demand being the driving force for expansion, a Bank of Communications report predicted.

Demand from Europe and the United States will bottom out and boost Chinese trade. Exports will rise about 8.5 percent this year from 2012 and imports will climb 10 percent, the report released on Friday said.

Domestic demand will continue to replace investment as the leading engine for economic growth, according to the report. It forecast nominal growth for retail sales at 16 percent and actual growth rate at 12.5 percent in 2013.

China will adopt loose fiscal and stable monetary policies to support the real economy. Its new lending will stand at about 9 to 9.5 trillion yuan ($1.43 to $1.51 trillion) in 2013, the report said.

China's gross domestic product grew 7.8 percent year on year to 51.93 trillion yuan, the first annual growth rate below 8 percent since 1999, National Bureau of Statistics data showed on Friday. http://usa.chinadaily.com.cn/business/2013-01/20/content_16146155.htm

[NutmegYankee]

1. And yet pay 0.25% interest.

[cthulu2016]

2. You do realize why China can grow at 8.5%?

Hint: If the USA were reduced to the level of per capita economic output of China we could also grow at 8.5%.

Another hint: If US workers made $1.00/day it wouldn't be very difficult to get that up to $1.085/day.

It is always easier to make percentage increases from a lower baseline.

USA GDP 48,000 per capita. 8th in the world. China 8,400 per capita, 94th in the world.

The scapegoating of China is tiresome. China has like a billion people who are poorer than poor Americans.... do we want to trade paces with China?

And if we don't want to trade places with China then what's the point of fretting about how China is doing so well?

[grahamhgreen]

3. We want our factories and jobs back. Tariffs and trade barriesrs. VAT taxes. End costly trade.

[smitra]

4. Yes, yes, yes and yes. Well said. n/t