Released today, the quarterly GDP in China closed at 7.9%. Keeping in mind that the Chinese economists predicted 7.8% and U.S. economists predicted even lower, what does this say about China’s virtual invulnerability to dire economic conditions?
When the statistics bureau in Beijing released the 8% goal for 2009 GDP growth, there was widespread doubt and uncertainty. I was in Hong Kong at the time, and the local populace believed this to be another over exaggeration from the PRC. However, as we have witnessed with the last quarter and seen the updated predictions for next year it was, in actuality, right on track.
Giving credit to the stimulus packaged released from Beijing for pushing this quarter through on the final lap, questions are being raised about the reality of the next years predicted GDP growth rate of 10%. Will the ‘exporting machine’ known as China live up to its name and truly increase their national GDP 10% while the rest of the world scrambles to reduce losses?
Finally, in response to the stimulus package and increased buying power, how can marketers take advantage of higher money supply and demand in China at its current state?
When the statistics bureau in Beijing released the 8% goal for 2009 GDP growth, there was widespread doubt and uncertainty. I was in Hong Kong at the time, and the local populace believed this to be another over exaggeration from the PRC. However, as we have witnessed with the last quarter and seen the updated predictions for next year it was, in actuality, right on track.
Giving credit to the stimulus packaged released from Beijing for pushing this quarter through on the final lap, questions are being raised about the reality of the next years predicted GDP growth rate of 10%. Will the ‘exporting machine’ known as China live up to its name and truly increase their national GDP 10% while the rest of the world scrambles to reduce losses?
Finally, in response to the stimulus package and increased buying power, how can marketers take advantage of higher money supply and demand in China at its current state?
- John Cutrone III
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