中国经济面临过热风险

Chinese growth

Not content with producing one of the world’s highest growth rates, China is now trumping its own performance. The juggernaut economy grew an annualised 11.3 per cent in the second quarter, the fastest pace since 1995 and well ahead of consensus forecasts.

Clearly, the various tightening measures implemented throughout the quarter have had a limited impact. Money is still cheap and plentiful, buoyed by a bloated trade surplus, so spending continues apace

北京：中国经济增速“合理”
Beijing sanguine amid growth rate fears

The pace of China’s economic expansion continues to produce gasps even from economists paid to track it, with Tuesday’s announcement of second quarter growth of 11.3 per cent surprising on the upside the most bullish commentators.

But it is hard to detect a similar degree of surprise or indeed worry in the halls of power in Beijing.


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China has long committed itself to rebalancing the economy away from reliance on investment and exports for growth, even as these two components continue to make up an ever larger share of output.

These two growth drivers have conspired to give China large and rising external surpluses, and the beginnings of a severe political problem with the US and Europe.

In the meantime, however, Chinese leaders are happy to have high growth and the level of job creation that comes with it