CHINA'S ECONOMY SLOWS ON WEAKER PRODUCTION, OLYMPICS CLOSURES
Kevin Hamlin
Bloomberg, August 16, 2008
China's growth is cooling and may spur the government to ease lending restrictions, provide more export-tax rebates and stall yuan appreciation, analysts said after economic reports this week.
Industrial production grew in July at the weakest pace in 16 months amid faltering orders for Chinese exports. Consumer prices rose the least in 10 months, giving policy makers room to boost the economy without fueling inflation.
The slowdown in China, which powered almost 30 percent of the global expansion last year, may be exacerbated by factory closures aimed at cutting pollution during the Beijing Olympics, according to Goldman Sachs Group Inc. The central bank yesterday said it would "fine-tune'' monetary policy as weaker overseas demand for the nation's goods poses risks to the economy.
"Concerns over China's export health will translate into a complete reversal of the current tightening policy," said Donald Straszheim, vice chairman of Newport Beach, California- based Roth Capital Partners. "Maintaining economic growth is now number one.''
Kevin Hamlin
Bloomberg, August 16, 2008
China's growth is cooling and may spur the government to ease lending restrictions, provide more export-tax rebates and stall yuan appreciation, analysts said after economic reports this week.
Industrial production grew in July at the weakest pace in 16 months amid faltering orders for Chinese exports. Consumer prices rose the least in 10 months, giving policy makers room to boost the economy without fueling inflation.
The slowdown in China, which powered almost 30 percent of the global expansion last year, may be exacerbated by factory closures aimed at cutting pollution during the Beijing Olympics, according to Goldman Sachs Group Inc. The central bank yesterday said it would "fine-tune'' monetary policy as weaker overseas demand for the nation's goods poses risks to the economy.
"Concerns over China's export health will translate into a complete reversal of the current tightening policy," said Donald Straszheim, vice chairman of Newport Beach, California- based Roth Capital Partners. "Maintaining economic growth is now number one.''
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