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China Plans $58 Billion Stimulus Package and Rate Cuts as Policy Shifts from Inflation to Growth
China’s policymakers are considering a $58 billion (400 billion yuan) economic stimulus package, and will ease monetary policy later this year, as focus shifts from taming inflation to promoting economic growth, said Frank Gong, chief China economist at JP Morgan Chase & Co (JPM).
The stimulus package would be equivalent to 1%-1.5% of the nation’s gross domestic product (GDP) and aimed at smaller businesses struggling with high material and energy costs, a strong yuan, narrowing export demand, and the government’s credit tightening.
“The top leadership is carefully considering an economic stimulus package,” Gong wrote in a note to clients. “This will…
20Aug2008 | Money Morning | Comments Off | ContinuedInvesting in Chinese Real Estate
Breaking News: Straight from China…
Wow, what a week this has been!
I landed in China about seven days ago and have been completely amazed by how much it’s changed in the last few years. I haven’t set foot in Beijing since late 2005 and the difference between then and now becomes evident as soon as you hit the airport.
Tons of signs in English, English speaking sales people and no more illegal cabbies trying to drag you into their cars.
Beijing is really trying to get the city in shape for the Olympics. Bootlegged merchandise, while still around, isn’t nearly as prevalent as…
26Jun2008 | The Penny Sleuth | Comments Off | ContinuedInvesting in China: Wrestling this Growing Behemoth
Unless you’ve been asleep for the past 10 years, you know that the hot investment ideas all come from China these days. It makes sense. With 1/5th of the world’s population, and a stronger desire to gain “developed country†status than any other country in the world, China has presented everyone with strong growth opportunities.
Unfortunately, most investors just don’t get it. They’ve been buying up stocks just because they say “China” in their names. It’s just like 1999, when people bought stocks just because they ended with “dot-com.” And we all know how that turned out.
I’ve been laying it all…
9Jun2008 | The Penny Sleuth | Comments Off | ContinuedChina Isn’t Increasing Oil Imports
Wow… Here is an act of entirely commendable proportions.
China is announcing to the world that it will NOT INCREASE OIL IMPORTS due to the impact of the recent earthquake swarm. How utterly, totally responsible of them!
Whoah! Say hello to oil price moderation, if not a slow retrenchment in oil prices. (Is the Fed listening?)
Actually, if this news gets the play it deserves the price of oil ought to sell off by $20 or so per barrel. This pops the bubble.
Seriously. Knock-knock. Who’s there? POP!
The initial energy-speculation on earthquake-related oil demand was based on the fact that hundreds of Chinese dams were damaged…
6Jun2008 | Energy and Oil | Comments Off | ContinuedTwo Ways to Profit as China and Japan Quietly Forge the Most Powerful Trading Alliance in the World
Chinese President Hu Jintao and Japanese Prime Minister Yauo Fukuda met recently and signed some modest cooperation agreements. That doesn’t sound much to get excited about, until you consider how well the Chinese and Japanese economies fit together.
Think of it this way: With China’s boundless supply of low-cost labor and Japan’s superb education system – and an ability to work together that’s clearly founded on considerable commonality of thinking – these two countries, as a pair, will be world-beaters.
In fact, they’ll be world leaders.
The Past has Passed
The summit – while modest – marked an important policy change from the mutual…
16May2008 | Money Morning | Comments Off | ContinuedThe View From China: As its Securities Regulations are Modernized, the Red Dragon’s Profit Potential Will Soar
HONG KONG – The question came to me as I was standing on the floor of the Hong Kong Stock Exchange here. I’d be willing to wager that quite a few investors – both within China and back in the United States – are wondering about this, as well.
Here it is: Will China implement a long-rumored capital-gains tax, and risk (another) major sell-off as a result?
Only Beijing’s inner circle knows for sure, and that only stokes investor speculation. The uncertainty can lead to rampant, knee-jerk sell-offs each time the scuttlebutt of an “imminent” tax surfaces. And those rumors have been surfacing…
13May2008 | Money Morning | Comments Off | Continued
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