Yes, but…


Less than a year ago, economists feared the country might be a drain on global growth. But China’s GDP expanded by 6.9 per cent in the first half of this year, accelerating from 6.7 per cent in 2016. China’s industrial profits in the first seven months rose 21.2 per cent from a year earlier, while profits at state-owned industrial enterprises surged 44.2 per cent in the same period, according to figures from the National Bureau of Statistics. Wen Bin, chief economist at China Minsheng Banking Corp, said that while there was clear evidence of a “cyclical expansion” – given the rebound in the producer price index and expansion of manufacturing activity since 2016 – the manner of growth was old-fashioned, relying on real estate and infrastructure construction, and government orders to cut capacity.

Yes, but what about climate change? Fun weirdness alert: In the big restaurant in the Guangzhou Pullman hotel they played music, and this guy was singing Lorde “you can call me queen bee.” Everything has melted down everywhere.

Leave a Reply