China’s Industrial Profits Drop Most in Two Years Amid Slowdown

[Ryan Fitzomething]

Source: Bloomberg News

Dec 27, 2014 2:04 AM GMT-0330

China’s industrial profits fell the most in two years last month, the latest data to show a deepening slowdown in the world’s second-biggest economy as pressure grows on the nation’s central bank to ease monetary conditions.

Total profits of China’s industrial enterprises in November dropped 4.2 percent from a year earlier, the National Bureau of Statistics said today in Beijing. That followed October’s 2.1 percent decline and a 0.4 percent increase in September. It’s the biggest slide since August 2012, when profits slumped 6.2 percent.

Mired in industrial overcapacity, factory-gate deflation and a housing slump, China is headed for its slowest full-year economic expansion since 1990. A Chinese factory index fell to a seven-month low in December, while growth in aggregate financing, the broadest gauge of credit, trailed estimates in November, and imports unexpectedly dropped amid weak demand.

China’s benchmark Shanghai Composite Index rallied 2.8 percent yesterday -- extending a two-day gain to 6.2 percent, the strongest in five years -- amid speculation the government will further ease monetary policy to support the economy after cutting interest rates last month.

Read more: http://www.bloomberg.com/news/2014-12-27/china-s-industrial-profits-drop-most-in-two-years-amid-slowdown.html

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Oops!

[jtuck004]

1. "Oops!" < So we are pushing the TPP to move jobs from China to cheaper places like Vietnam.

And move more of our jobs out faster in the process. We've already lost a million good US jobs, destroyed parts of Mexico. This will be more of the same and bring tragedy to people who have no clue about what is coming for them, thousands of working Americans and others.

So yeah, China stumbles. We, on the other hand, are attempting an intentional swan dive onto our collective faces, because it will hurt nearly everyone in this country. We have already had 10 million people move from above down into poverty just during the past 6 years. This will add to that.

All for it of course, Vietnam is keeping us posted: http://vietnam.usembassy.gov/tpp.html

So are some of the unions: http://www.cwa-union.org/news/entry/the_trans-pacific_partnership_lost_us_jobs_wages_and_workers_rights#.VJ5s4AjWc

As if we are watching someone's house flood from the deck of a sinking ship.

[quadrature]

2. welcome news ...

a 'no-growth' China would be a blessing
to the world.

better, would be a 'negative-growth' China

[Arcadiasix]

4. Until the wars start

China has been dumping tons of cash into their military.

[quadrature]

5. China had trouble with VietNam..

the Chinese leadership's
greatest fear,
is the Chinese people

[Enthusiast]

3. Hopefully the TPP can reinvigorate China.

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[bemildred]

6. Heh. Good one. nt

[tabasco]

7. Smog is poisoning the workers

Maybe China can institute mandatory amphetamine injections.