I’ve been dredging the web for hours now looking for a chart that shows the annual levels of Chinese fixed investment, but no luck. If anybody has one they could send to me I would be most appreciative. floatingrate AT gmail.com cheers
In other news, it looks like the government is taking some serious steps to reduce some of their “overcapacity”. From the NYT today: In Crackdown on Energy Use, China to Shut 2,000 Factories http://www.nytimes.com/2010/08/10/business/energy-environment/10yuan.html?_r=1&hp “The ministry said in its statement that the factories to be closed would include 762 that make cement, 279 that produce paper, 175 that manufacture steel and 84 that process leather.” Interesting economic model based on building tons more factories, roads, office buildings, trains, and airports than you need in order to keep GDP at the magical 8% number and then just shutting them down and rebuilding them. Keeps everyone busy anyways.