China's 8.9% Growth? No Way

Funny thing is US and China both did stimulus same size and time. Ours worked beautifully, yours fell flat on it's face. No doubt why. Yours was directed to political and ideological allies for pet projects and support. Total corruption and fleecing of taxpayer citizens

Another stupid anti-china hit piece. Totally deliberately mis-representing China to make yourself look good. Posture and lie all you want. We're on our way up, and fast, and will soon leave you in the dust, while you continue your downward spiral

We built you over several years and could take you out in a few hours. Slant that to the bank.

JJFADS wrote:

We built you over several years and could take you out in a few hours. Slant that to the bank.

Long as you keep thinking that, it'll disarm you, and work to our advantage. One day soon you will say "Wow, where did that come from? I didn't see it coming" Ah ha ha

This is the infamous guy who wrote the book "coming collapse of China" back in 2001. In the book he predicted that China would collapse no later than 2006. Just don't why they still publish his articles.

BTW, below article from Newsweek is interesting.

The Recession’s Real Winner
Published Oct 17, 2009
The great surprise of 2009 has been the resilience of the big emerging markets—India, China, Indonesia—whose economies have stayed vibrant. But one country has not just survived but thrived: China. The Chinese economy will grow at 8.5 percent this year, exports have rebounded to where they were in early 2008, foreign-exchange reserves have hit an all-time high of $2.3 trillion, and Beijing's stimulus package has launched the next great phase of infrastructure building in the country. Much of this has been driven by remarkably effective government policies. Charles Kaye, CEO of the global private-equity firm Warburg Pincus, lived in Hong Kong for years. After his last trip to China a few months ago he said to me, "All other governments have responded to this crisis defensively, protecting their weak spots. China has used it to move aggressively forward." It is fair to say that the winner of the global economic crisis is Beijing.
Almost every country in the Western world entered the crisis ill prepared. Governments were spending too much money and running high deficits, so when they had to spend massively to stabilize the economy, deficits zoomed into the stratosphere. Three years ago, European countries were required to have a budget deficit of less than 3 percent of GDP to qualify for EU membership. Next year, many will have deficits of about 8 percent of GDP. The U.S. deficit will be higher, in percentage terms, than at any point since World War II.
cont...

China entered the crisis in an entirely different position. It was running a budget surplus and had been raising interest rates to tamp down excessive growth. Its banks had been reining in consumer spending and excessive credit. So when the crisis hit, the Chinese government could adopt textbook policies to jump-start growth. It could lower interest rates, raise government spending, ease up on credit, and encourage consumers to start spending. Having been disciplined during the fat years, Beijing could now ease up during the lean ones.
And look at the nature of China's stimulus. Most of U.S. government spending is directed at consumption—in the form of subsidies, wages, health benefits, etc. The bulk of China's stimulus is going toward investment for future growth: infrastructure and new technologies. Having built 21st-century infrastructure for its first-tier cities in the last decade, Beijing will now build similar facilities for the second tier.
China will spend $200 billion on railways in the next two years, much of it for high-speed rail. The Beijing-Shanghai line will cut travel times between those two cities from 10 hours to four. The United States, by contrast, has designated less than $20 billion, to be spread out over more than a dozen projects, thus guaranteeing their failure. It's not just rail, of course. China will add 44,000 miles of new roads and 100 new airports in the next decade. And then there is shipping, where China has become the global leader. Two out of the world's three largest ports are Shanghai and Hong Kong.
China is also well aware of its dependence on imported oil and is acting in surprisingly farsighted ways. It now spends more on solar, wind, and battery technology than the United States does. Research by the investment bank Lazard Freres shows that of the top 10 companies (by market capitalization) in these three fields, four are Chinese.(Only three are American.) It is also making a massive investment in higher education.
"For the last decade, as China's economy kept growing at unprecedented rates, most Western analysts kept discussing when it would crash," says Zachary Karabell, the author of a smart new book, Superfusion, on the Sino-U.S. economy. "Now with China surging ahead through this crisis, all they can discuss is, when will China stall? It's as if they see the facts, but they can't quite make sense of them." China's strange mixture of state intervention, markets, dictatorship, and efficiency is puzzling. But it's time to stop hoping for China's failure and start understanding and adapting to its success.

lastingpeace wrote:

China entered the crisis in an entirely different position. It was running a budget surplus and had been raising interest rates to tamp down excessive growth. Its banks had been reining in consumer spending and excessive credit. So when the crisis hit, the Chinese government could adopt textbook policies to jump-start growth. It could lower interest rates, raise government spending, ease up on credit, and encourage consumers to start spending. Having been disciplined during the fat years, Beijing could now ease up during the lean ones.
And look at the nature of China's stimulus. Most of U.S. government spending is directed at consumption—in the form of subsidies, wages, health benefits, etc. The bulk of China's stimulus is going toward investment for future growth: infrastructure and new technologies. Having built 21st-century infrastructure for its first-tier cities in the last decade, Beijing will now build similar facilities for the second tier.
China will spend $200 billion on railways in the next two years, much of it for high-speed rail. The Beijing-Shanghai line will cut travel times between those two cities from 10 hours to four. The United States, by contrast, has designated less than $20 billion, to be spread out over more than a dozen projects, thus guaranteeing their failure. It's not just rail, of course. China will add 44,000 miles of new roads and 100 new airports in the next decade. And then there is shipping, where China has become the global leader. Two out of the world's three largest ports are Shanghai and Hong Kong.
China is also well aware of its dependence on imported oil and is acting in surprisingly farsighted ways. It now spends more on solar, wind, and battery technology than the United States does. Research by the investment bank Lazard Freres shows that of the top 10 companies (by market capitalization) in these three fields, four are Chinese.(Only three are American.) It is also making a massive investment in higher education.
"For the last decade, as China's economy kept growing at unprecedented rates, most Western analysts kept discussing when it would crash," says Zachary Karabell, the author of a smart new book, Superfusion, on the Sino-U.S. economy. "Now with China surging ahead through this crisis, all they can discuss is, when will China stall? It's as if they see the facts, but they can't quite make sense of them." China's strange mixture of state intervention, markets, dictatorship, and efficiency is puzzling. But it's time to stop hoping for China's failure and start understanding and adapting to its success.

They can't.

The world is looking to China for leadership no longer America because of failed policies and bad policies of the last eight years but Obama will right the ship and America will soon be a world leader again.

Snowflake wrote:

The world is looking to China for leadership no longer America because of failed policies and bad policies of the last eight years but Obama will right the ship and America will soon be a world leader again.

Ah ha ha

Snowflake wrote:

The world is looking to China for leadership no longer America because of failed policies and bad policies of the last eight years but Obama will right the ship and America will soon be a world leader again.

" Obama will right the ship and America will soon be a world leader again "

That sounds like a prayer to me.

old china wrote:

<quoted text>
"Obama will right the ship and America will soon be a world leader again" That sounds like a prayer to me.

Lot of Americans "feel" that way. It keeps them from facing reality. Like a christian having to admit there is no god, they deny to, and past, the end

The American economy is making a comeback albeit not as fast as the Chinese. The Chinese econmoy is phenomenal no one can compare to it. But America always have a way to comeback and be on top. China will once again kowtow to us, Old China I believe that that at one time you were an America and might still be why are you so pro China and anti America. If America is good China will be good.

Snowfalke wrote:

The American economy is making a comeback albeit not as fast as the Chinese. The Chinese econmoy is phenomenal no one can compare to it. But America always have a way to comeback and be on top. China will once again kowtow to us, Old China I believe that that at one time you were an America and might still be why are you so pro China and anti America. If America is good China will be good.

Sounds great...but it's just wishful thinking.
In less than 10 years China will be the predominent economic power in the world.

lastingpeace wrote:

China entered the crisis in an entirely different position. It was running a budget surplus and had been raising interest rates to tamp down excessive growth. Its banks had been reining in consumer spending and excessive credit. So when the crisis hit, the Chinese government could adopt textbook policies to jump-start growth. It could lower interest rates, raise government spending, ease up on credit, and encourage consumers to start spending. Having been disciplined during the fat years, Beijing could now ease up during the lean ones.
And look at the nature of China's stimulus. Most of U.S. government spending is directed at consumption—in the form of subsidies, wages, health benefits, etc. The bulk of China's stimulus is going toward investment for future growth: infrastructure and new technologies. Having built 21st-century infrastructure for its first-tier cities in the last decade, Beijing will now build similar facilities for the second tier.
China will spend $200 billion on railways in the next two years, much of it for high-speed rail. The Beijing-Shanghai line will cut travel times between those two cities from 10 hours to four. The United States, by contrast, has designated less than $20 billion, to be spread out over more than a dozen projects, thus guaranteeing their failure. It's not just rail, of course. China will add 44,000 miles of new roads and 100 new airports in the next decade. And then there is shipping, where China has become the global leader. Two out of the world's three largest ports are Shanghai and Hong Kong.
China is also well aware of its dependence on imported oil and is acting in surprisingly farsighted ways. It now spends more on solar, wind, and battery technology than the United States does. Research by the investment bank Lazard Freres shows that of the top 10 companies (by market capitalization) in these three fields, four are Chinese.(Only three are American.) It is also making a massive investment in higher education.
"For the last decade, as China's economy kept growing at unprecedented rates, most Western analysts kept discussing when it would crash," says Zachary Karabell, the author of a smart new book, Superfusion, on the Sino-U.S. economy. "Now with China surging ahead through this crisis, all they can discuss is, when will China stall? It's as if they see the facts, but they can't quite make sense of them." China's strange mixture of state intervention, markets, dictatorship, and efficiency is puzzling. But it's time to stop hoping for China's failure and start understanding and adapting to its success.

Excellent piece.
Too bad some here are so blind to reality.

JJFADS wrote:

We built you over several years and could take you out in a few hours. Slant that to the bank.

Clueless!!
Also pitiful.

lastingpeace wrote:

This is the infamous guy who wrote the book "coming collapse of China" back in 2001. In the book he predicted that China would collapse no later than 2006. Just don't why they still publish his articles.

Shouldn't he already be a laughing stock, with his predicted coming collapse never materialized? US is full of this type of China experts, laughable.

The Chinese Communist Party claimed that the "Great Leap Forward" was a STUNNING SUCCESS as well.

But of course, it was a disaster that created a famine that most likely killed 30 million Chinese people!

They will never stop lying, and why should they, with media control/propaganda, censorship, and the gulag?

This article has been sabotaged with a computer virus, I notice; obviously by CCP lackey "Bob" and his Beijing buddies.

THAT is obvious confirmation of its accuracy. Otherwise, why bother?

What's 8.9% GDP growth of a $2 trillion dollar economy? Why that would be 2.178 trillion! LOL

The US economy is already at $14 trillion with A BILLION less people!!!!!!!!!! ha ha ha ha ha ha !!!

And what is most of that economic output? Valued added products with high technological inputs? Nope, just a lot rubber duckies, and low tech crap that explode in 3 days!! LOL

Hold on to the Champagne bottle because everything in China is not cracked up to be!

If Chinese want to be taken seriously, then don't hoot and holler over things you barely understand!

Lip synching is not really singing in the West!!:)

I see a lot of Chinese lip synchers on here.

http://american.com/archive/2009/october/hold...

Hold the Champagne bottle! Hubris has a way of making people look rather foolish!