China’s Slowing Growth Shows Why BRICS Are Broken: Ruchir Sharma

From the second quarter the government has unleashed a lot of projects, and that has started to be felt in the economy, but it’s not a very healthy recovery yet BEIJING — China’s economy picked up in November, but a broader global recovery remains fragile and patchy, a clutch of factory surveys suggested on Monday, with activity elsewhere in Asia remaining subdued amid depressed demand from the developed world.

LONDON/BEIJING – China’s vast manufacturing sector expanded in December but the eurozone is probably deeper in recession, business surveys suggested on Friday. Data researcher Markit said its Eurozone Flash Composite Purchasing Managers Index, which combines both manufacturing and services sector data, showed small signs of improvement. It rose to a nine-month high of 47.3 this month, beating forecasts for 46.8.

A rally in Asia is underway this morning as Wen Jiabao, China’s premier is upbeat on China’s economy Wen Jiabao, China’s premier, has given his most optimistic assessment of the Chinese economy since the start of the year, saying that it had stabilised and that the government’s target of 7.5 per cent annual growth was well within reach.

People living in the BRICS region describe what it is like to be working in booming economies.

BEIJING — China’s factory output growth was surprisingly feeble in April and fixed-asset investment slowed, rekindling concerns that a nascent recovery is stalling and adding to pressure on policymakers to take action to stimulate the economy. However, China’s already-easy monetary policy and rising home prices complicate the options available to Beijing’s new leadership, leading some analysts to say that any response could be limited to fiscal measures.

On the outskirts of Beijing, couture designer Guo Pei presides over a studio that stretches more than 1,000 square meters and rises nearly four stories high. Inside, an army of employees is drafting, cutting, and sewing – all working to bring the designer’s latest creative visions to life.   Guo Pei is the woman credited with inventing Chinese haute couture, and one of the first to build a luxury brand in a country better known for cheap ersatz copies than authenticity and quality.  

IN 1793 a British envoy, Lord Macartney, arrived at the court of the Chinese emperor, hoping to open an embassy. He brought with him a selection of gifts from his newly industrialising nation.

Carnegie Endowment submits:Rising labor costs, a slowing recovery in the advanced economies, and expected reductions in China’s dependence on external demand will probably slow China’s growth to 7–8 percent in the years ahead. A significant slowdown, as feared for the United States, is unlikely, however.