China Grows At 10.7% Year-Over-Year
January 21, 2010
China’s has returned to hyper-growth, with the latest GDP numbers coming in at 10.7% (YoY). Much of the growth is likely fueled by the property sector, which has been on fire thanks to low interest rates and fairly easy money. There are waiting lists for cars, and housing is at a ridiculous multiple to average incomes (in some areas 25-30x annual income).
Of course, the GDP number is believable only if you believe it. Just imagine what it will be like once the US consumer wakes up from its drunken state!
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That is a lot of growth, and fast. It makes you wonder how sustainable this really is.
shenanigans.