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Currently there are worries that the economy is overheating. Bubbles are beginning to form in property, steel and cars, and power generation is running up against capacity constraints. China's real problem, however, is not inflation but overinvestment. In its quest for growth, the government has directed its state-owned banks to open the taps. Easy credit is producing massive overcapacity, leading to deflation, more bad debts and fewer new jobs. Already, nine-tenths of manufactured goods are in oversupply, yet investment in fixed assets last year grew by 30% and contributed 47% of GDP. Three-quarters of China's growth comes from capital accumulation, according to Paul Heytens and Harm Zebregs of the IMF, yet total factor productivity—a measure of overall economic efficiency—rose by only 2% a year in 1995-99.

 

Татарин, 29.03.2004 19:05:02 :

У Вас есть подписка?

...а по России у них подобная инфа есть?

 

Dem_anywhere, 30.03.2004 14:18:40 :

Ну догнали они Индию... Догонять - не идти первым