Mitsui Credit Global: The People’s Republic of
China has surpassed Japan as the world’s 2nd biggest economy.
Mitsui Credit Global: China’s GDP
exceeded Japan’s for the first time last quarter crowning the country’s 30 year
ascension from an isolated communist oddity plagued by poverty and occasional
famine to an emerging superpower tipped to supplant the United States as the
world’s largest economy by 2030.
Japan’s gross domestic product for the last quarter came in at US$1.288
trillion while China’s economy posted US$1.337 trillion for the same period.
China’s effectively been the world’s primary engine of economic growth
since the dark days of the global recession. Both the US and Europe have been
dogged by anemic growth exacerbated by a reluctance to lend on the part of the
banks and the hangover from record public and household indebtedness.
We’ve been particularly impressed with the resilience of China’s growth
which continues despite assertions from many quarters that the impact of the
massive $586 billion stimulus package was beginning to wane.
The fact that the growth in China has had the effect of pulling other
economies along in its wake is something of a bonus. Commodity-exporting
countries like Australia have enjoyed an apparent immunity to the woes that
have afflicted Europe and the US.
The nation of 1.3 billion souls has overtaken the United States as the
world’s largest automobile market and replaced Germany as the biggest exporter.
It’s second only to the US in terms of crude oil imports and is number one in
iron ore and copper purchases.
Of course, how long this can go on is a concern for some. How many
airports, railways and power stations can China build? There are already
anecdotes of entire cities with populations that number in the thousands or
tens of thousands rather than the millions they were constructed to accommodate.
Only time will tell how things pan out in these so-called “ghost cities” but Mitsui Credit Global welcomes the
passing of China’s latest milestone.
About Mitsui
Credit Global:
Providing value to their customers is their
single core value. They make strategic investments they know they can build
with their deep industry knowledge, with the goal of later selling at profit.
Using their industry leading One Mitsui Credit Global network platform,
combined with their Operational Excellence team and strong analytical and data
driven knowledge, they create and manage custom plans for each of their private
equity and real estate investments. Our strong successes enable our investors
to reach their goals, such as pension funds enabling the secure retirements of
millions of
public employees.
Contact Mitsui Credit Global:
16F / Yodoyabashi Mitsui Building
4-1-1 Imabashi, Chuo-ku, Osaka-shi,
Osaka, 541-0042
http://www.mitsuicredit.com
pr@mitsuicredit.com
81662534321
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