Chinese economy is slightly recovering
For the time being the communist party bureau in China is electing a new league of party members to lead the country. And timely the statistic office presents favourable economic recovery signs
Industrial production grew in October 9.6 % in China and as compared to the same month in 2011 and the figure is higher than the 9.2 % in September. Also exports grew again in October and retail sales rose 14.5 %, in September the growth rate was 14.2 %. Experts expect that in the last quarter of 2012 China’s GDP Gross Domestic Product will grow closer to 8 %, in the third quarter the growth rate was 7.4 %. Consumer prices were increasing in October by 1.7 %, a 33-month low and the rate of inflation remained below 4 %.
Chinese trust invested CNY 310.86 billion (around USD 49.7 billion) in the third quarter in infrastructure projects and this is almost tripling the CNY 116.24 billion provided in 2011.
Last week the OECD Organisation for economic cooperation and development has published a report estimating that China and India will have together a more important GDP by 2025 than the G7 group of leading economic nations. Another finding is that China will superseed the USA as the biggest economic power by 2016 (that is four years earlier than previously expected).
The estimated growth of the world economy is estimated at three percent annually up to 2025 and the emerging countries will grow at a higher rate. Up to that time also the European economic powers such as Germany, Austria and Luxemburg will show decreasing economic significance, and the newest estimates show that 2011 Germany was ranking No. 5 after the USA, China, Japan and India and up to 2060 Germany will fall further back and advancing will Brazil, Indonesia, Mexico, Russia and France.