{"id":209807,"date":"2010-01-21T13:05:06","date_gmt":"2010-01-21T18:05:06","guid":{"rendered":"tag:business.theatlantic.com,2010:\/\/3.33945"},"modified":"2010-01-21T12:57:49","modified_gmt":"2010-01-21T17:57:49","slug":"chinas-gdp-story-is-americas-gdp-story-too","status":"publish","type":"post","link":"https:\/\/mereja.media\/index\/209807","title":{"rendered":"China’s GDP Story is America’s GDP Story, Too"},"content":{"rendered":"

China’s economy grew by 8.7 percent in 2009 — and a blistering 10.7 percent in the fourth quarter alone.These are important paragraphs<\/a>:<\/p>\n

\n

Retail sales rose 16.9 percent in 2009, as China encourage domestic
\nspending to make up for lost export business during the recession.<\/p>\n

But
\nconcerns are rising of a growing property bubble in China, fueled by
\nlending which has seen property prices grow 50 percent or more in some
\ncities.<\/p>\n<\/blockquote>\n

Asia’s retail explosion is key for the US economy. With unemployment
\nstuck at 10 percent and unlikely to fall much over the next year, we
\ndon’t have the firepower to lead a retail comeback on our own. It’s not just that we’re not buying many goods. We’re also stalling the construction comeback by moving less than at any time since World War II<\/a>. In the short-term, we need
\nhelp from exports, a cheap dollar and voracious overseas demand. That’s
\nwhy the roar coming out of eastern Asia is good news indeed for the US
\neconomy, and it’s the reason why manufacturing has been on a tear<\/a> for the last half year even as unemployment inched higher.<\/p>\n

But that second paragraph also explains why American policy makers will be keeping an eye on the
\nproperty “bubble” in China. Dan Indiviglio rounded up some smart
\nthoughts on whether China was at the precipice of a dangerous pop and
\nconcluded … probably not<\/a>. Still there are disconcerting facts about the pace of China’s real estate boom, like this<\/a>: New home mortgages in the first nine months of 2009 were
\n$139.5 billion, four times<\/i> the amount offered a year earlier.

\n

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China’s economy grew by 8.7 percent in 2009 — and a blistering 10.7 percent in the fourth quarter alone.These are important paragraphs: Retail sales rose 16.9 percent in 2009, as China encourage domestic spending to make up for lost export business during the recession. But concerns are rising of a growing property bubble in China, […]<\/p>\n","protected":false},"author":1534,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[7],"tags":[],"class_list":["post-209807","post","type-post","status-publish","format-standard","hentry","category-news"],"_links":{"self":[{"href":"https:\/\/mereja.media\/index\/wp-json\/wp\/v2\/posts\/209807","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/mereja.media\/index\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/mereja.media\/index\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/mereja.media\/index\/wp-json\/wp\/v2\/users\/1534"}],"replies":[{"embeddable":true,"href":"https:\/\/mereja.media\/index\/wp-json\/wp\/v2\/comments?post=209807"}],"version-history":[{"count":0,"href":"https:\/\/mereja.media\/index\/wp-json\/wp\/v2\/posts\/209807\/revisions"}],"wp:attachment":[{"href":"https:\/\/mereja.media\/index\/wp-json\/wp\/v2\/media?parent=209807"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/mereja.media\/index\/wp-json\/wp\/v2\/categories?post=209807"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/mereja.media\/index\/wp-json\/wp\/v2\/tags?post=209807"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}