PREPARE FOR AN ATTACK OF THE CHINA BEARS
The Wall Street Journal, May 25, 2011
The latest data from the National Bureau of Statistics show that China's investment-led economy tilted further out of whack in 2010.
Investment as a share of GDP came in at a record 46.2% in 2010, up from 45.2% in 2009. Household consumption fell to 33.8%, down from 35% the previous year.
High levels of investment and low domestic consumption are a reminder of all the things wrong with China's economy: excess industrial capacity, real estate bubbles and a population that's still happier stuffing cash under the mattress than spending it in shops. Pessimists say such unbalanced growth can't be sustained.
(...) [artículo aquí]