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 ZT：华尔街日报：套上了笼头的中国经济仍然毫无减速的迹象 |
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wanderer
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作者：wanderer 在 海归商务 发贴, 来自【海归网】 http://www.haiguinet.com
A Bridling Chinese Economy Shows No Sign of Slowing
Belying worries about a soft or hard landing, the Chinese economy is showing no signs of coming down at all.
The Commerce Ministry today said the economy is expected to grow at an annual rate of more than 9% in the first half of the year, well above the official target of 7%, fueling fears the government's attempts to slow expansion and stave off inflation aren't working. The direction of China's oil-and-commodity-consuming economy -- a global player in manufacturing, a growing importer and an increasing factor in the pricing of raw and finished goods far beyond its borders -- has become a central concern of global finance. China's gross domestic product expanded by 9.1% last year. And its economy roared ahead at a 9.7% rate in the first quarter, bolstered by unrelenting investment in the country's manufacturing sector. In a bid to slow that growth without raising interest rates or fiddling with the country's politically sensitive currency policy, Chinese officials sought to staunch the flow of industrial bank lending. First they increased banks' required reserve levels, and then they ordered temporary halts to certain kinds of lending for construction, capital investment and other new projects.
As a result, Vice Finance Minister Lou Jiwei said today, such investments were just 35% higher in April than in April 2003, down from the 44% increase clocked in March. Mr. Lou said the government may undertake other measures to restrain bank lending. The uncertain dimension of bad loans made by Chinese banks is another potential problem, and one that could be exacerbated if the government's relatively untested economic engineering doesn't find the right combination of policies to slow growth without strangling it. But the more immediate consequences of the runaway pace are already evident. Last week the government said domestic consumer prices rose at the fastest pace in seven years, the opposite effect of what Chinese exporting had done for some U.S. consumer goods in recent years, but one that could be contagious. The inflationary effects of Chinese industry's thirst for commodities has raised prices around the world, though it could put tap the breaks on growth at home. The ministry today also said growth of exports and imports are expected to slow this year.
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作者：wanderer 在 海归商务 发贴, 来自【海归网】 http://www.haiguinet.com
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 ZT：华尔街日报：套上了笼头的中国经济仍然毫无减速的迹象 -- wanderer - (2375 Byte) 2004-5-22 周六, 06:45 (2268 reads)
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