After Barreling Ahead in Recession, China Finally Slows
Source: New York Times
XIAN, China A nationwide real estate downturn, stalling exports and declining consumer confidence have produced what a Chinese cabinet adviser, quoted on the official government Web site on Thursday, characterized as a sharp slowdown in the economy.
Though the Chinese economy continues to expand, construction workers are losing jobs in droves and retail sales grew last month at the slowest pace in more than three years. Investments in fixed assets have increased more slowly this year than in any year since 2001.
The most striking feature of the slowdown is that it extends beyond the coastal provinces, which depend on exports and are closely linked to the global economy, to the countrys far more insular interior, including cities like Xian here in northwestern China.
Chinas unexpected economic difficulties are starting to unnerve investors in world markets, especially commodity markets, as China is the worlds largest consumer of most raw materials and the second-largest consumer of oil.
Read more: http://www.nytimes.com/2012/05/25/business/global/chinas-once-hot-economy-is-turning-cold.html?_r=1&partner=rss&emc=rss
U-S-A! U-S---waitaminute.....
Javaman
(62,520 posts)While china isn't the largest producer of electronic semi-conductors, they do have a huge chunk of it.
madrchsod
(58,162 posts)rayofreason
(2,259 posts)...it will be a good indicator of real Chinese industrial production.
http://www.indexmundi.com/commodities/?commodity=iron-ore