Zero Hedge: Beijing Lets One Slip: Obscure Data Suggests China Housing Bubble Has Burst
As far back as 2013, China's macro-economic data has been 'questionably' smoothed at best, and outright fake at worst. Whether it is trade data ("never been faker" than in 2016) or aggregate production (2018's massive GDP distortions), as economist Nouriel Roubini once asserted, China just makes its numbers up.
And, as we pointed out earlier this week, this month was no exception, when following China GDP's dramatic slowing to just 6.2% YoY - the slowest since record began - there was a delightful surprise to appease those who are wondering whether record credit injections and more easing measures than during the financial crisis had any effect at all. To wit, China retail sales and industrial production rebounded handsomely with the former spiking 9.8% YoY - the most since March 2018.
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WNU Editor: Some of my best contacts in China are in the construction industry, and they have been telling me since the beginning of this year that they have not seen business as bad as it is now. Does this mean that the Chinese housing bubble has burst? My gut is telling me yes. There is also one thing that I am very sure about, and that is President Trump and his trade negotiators are probably well aware of this, and are using this data as leverage against the Chinese.
6 comments:
As I've said over and over here. And yeah I was also right, two years ahead, that Mueller will have nothing.
Meanwhile the little parrot still yapps what he heard on cnn.
OK guys here's the deal:
We are witnessing this centuries biggest realignment of power.
Just a few years ago every "expert " on MSM/CNN told us the Chinese are invincible and we better all learn Chinese because the Chinese century is upon us.
In walks DJT, and suddenly history itself is very different
Love him or hate him. Western historians will be very kind to him and it's time we do the same
F*ck the cry babies. .this is major major stuff..you know. .not being enslaved by an ethno state that believes they're the just rulers of this world
I generally agree with your 'realignment' meaning the US is setting things right after years of abuse by our politicians, but being early in this century; I think there is ample opportunities for bigger things. For one, the mass migration issue has a potential to really change the landscape of the world. Then, China won't just go away, they will challenge for resources in the S China sea and Iran will explode or implode. Next few decades will be interesting.
Give the parrot a break. He is borderline.
Parrot reminds me of Chauncey Gardiner with obsequious party loyalty of a toady thrown in.
"not being enslaved by an ethno state that believes they're the just rulers of this world"
China has called itself "The Middle Kingdom". That is they thought of themselves as the center of the universe.
Death to the Chicoms!!!!
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