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China - page 2

China vs. the World

in China/FP: Latest

 This paragraph, taken from a SocGen research report by Dylan Grice (one of the few sell-side folks worth reading, along with Albert Edwards, also at SocGen), sums up the dichotomy between how investors look at China and the rest of the world. Trading on a lowly 0.5x book value, Lloyds (LYG 5.1 ↓2.49%) is clearly…

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China’s growth an accounting miracle

in China

I hope you are enjoying the last month of summer.  I’ve gone fishing twice this month – caught absolutely nothing.  Actually I don’t think I’ve caught a single fish over the last five years.  But I’ve been mainly reading, listening to music and drinking beer while I was fishing.  So the fish probably did not…

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The China Bubble’s Coming — But Not the One You Think

in China/The Process

Financial commentators are obsessively debating whether the recent rise in the Chinese stock market means there’s a bubble — and if so, when it’s going to burst. My take? Who cares! What happens to the broader Chinese economy is what we should really be watching. It will have a far-reaching impact on the rest of the world — much more far-reaching than a decline in stocks.

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China Growth – No Miracle

in China

Be careful about investing your hard-earned dollars in the latest Chinese five-year economic miracle.  One should not confuse China’s latest economic growth — retail sales up 14.8 percent, industrial production up 7.3 percent and car production ahead 18 percent — with sustainable growth. Now that the US consumer is de-leveraging and the global appetite for…

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Will China stay the capitalist course?

in China

As a follow up to a recent article, I had a very interesting conversation with a reader.  He argued that there is something very important and intangible that economists cannot measure. The will of people. That public will becomes even stronger when a country’s past is ridden with political and economic misery.  Think of Germany…

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The Next Great Bubble: China

in China

One more bubble, please. After the bubbles in technology, housing, and commodities, we saw the mother of all bubbles: the one in global liquidity. The world economy seemed to require bubbles for its continued functioning. I get the distinct feeling that investors’ prayers are now being answered: There’s a new bubble now – or an…

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A Far-East Fiasco?

in China/Macro

I often start my mornings with egg, cheese and turkey sandwich at Panera Bread.  This morning was no different.  While reading newspapers on my Kindle, sipping hazelnut coffee (I know I just lost respect of the true coffee drinkers), I started with yesterday’s FT, an article on China piqued my interest.  China plays a very…

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China is slowing down

in China

I’ve said for a long time that one should not trust economic statistics data coming from the Chinese Government as it has the incentives (and power) to interrogate the data until it confesses to what it wants to see.   Today we learned that industrial production in China rose 8.2% in October, a slowdown from…

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