China numbers up today via ADB


The Asian Development Bank has revised its forecasts upwards for China’s economy for this year and next, despite concerns raised by other economists and analysts over its high levels of debt. The lender predicts China’s economy will grow 6.7 per cent this year, compared with an earlier prediction of 6.5 per cent. Growth next year is tipped at 6.4 per cent, up from a previous estimate of 6.2 per cent. It said growth prospects for Asia were also improving on a revival in world trade and “strong momentum” in China.

So depending on your viewpoint China is either a Ponzi Scheme or a great threat as its economy becomes 3x that of the US. Meanwhile it seems to tick along at 6% growth. Help!

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