Monday, April 16, 2007

Some Astonishing Numbers

Bloomberg gives us some astonishing numbers on China's economy today:
China's Economy Probably Grew 10.4 Percent as Exports Boomed

April 17 (Bloomberg) -- China's economy, the world's fourth largest, probably grew more than 10 percent for the fifth straight quarter on booming exports and an investment rebound.

Gross domestic product expanded 10.4 percent from a year earlier, according to the median estimate of 24 economists surveyed by Bloomberg News, the same pace as in the fourth quarter. The statistics bureau will release first-quarter figures in Beijing on April 19.

China's foreign-exchange reserves grow by $1 million a minute, flooding the economy with cash and fueling investment and inflation.

...China's economy has more than doubled in size since the end of 2000 and last year's 10.7 percent expansion was the biggest since 1995. Growth for each of the past four years was at least 10 percent.

...Urban investment in factories and real estate probably climbed 23 percent in the first three months from a year earlier, the survey showed. That compares with 13.8 percent in December and 24.5 percent for all of last year.

I'll leave it at that.

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