Arjun Lahiri: How do you say 'bubble' in Mandarin? |
China's journey up the growth curve has been so fast that the ride down could be equally nerve-racking |
Arjun Lahiri / August 30, 2010, 0:41 IST |
Is China a Lehman multiplied, waiting to collapse? Hugh Hendry thinks so. Mr Hendry is a Scottish hedge fund manager in London who has become something of a celebrity for his unconventional and outspoken opinions. Mr Hendry is convinced that China is a growing property bubble, and claims the Chinese authorities are pumping money in to unnecessary construction projects to fuel growth.
For the last 30 years, China has maintained a growth rate of around 8 per cent. And the world has never quite seen anything like it. Since the Beijing Olympics in 2008 — a sort of coming-of-age display for the country — the international community has almost come to accept China to be the new superpower of the 21st century. But the last few years have also begun to show the first signs of cooling of the Chinese economy: an inevitable process for an economy beginning to mature.
... deleted
No comments:
Post a Comment