{"id":13177,"date":"2016-04-18T02:16:21","date_gmt":"2016-04-18T06:16:21","guid":{"rendered":"http:\/\/goldstocksforex.com\/?p=13177"},"modified":"2016-04-18T02:16:21","modified_gmt":"2016-04-18T06:16:21","slug":"special-report-measuring-chinas-resurgent-construction-boom-macrobusiness","status":"publish","type":"post","link":"https:\/\/thepatientinvestor.com\/index.php\/2016\/04\/18\/special-report-measuring-chinas-resurgent-construction-boom-macrobusiness\/","title":{"rendered":"China’s resurgent construction boom | MacroBusiness"},"content":{"rendered":"

Societie General on China’s resurgence: <\/p>\n

In our view, the most obvious underlying factor behind this recovery is credit. In Q1, increases in total credit exploded to CNY7.5tn, up 58% yoy and equivalent to 46.5% of nominal GDP \u2013 one of the highest ratios ever. Credit growth accelerated to 15.8% yoy to end-March, the quickest pace in 20 months.<\/p><\/blockquote>\n

\"\"<\/a><\/p>\n

Credit growing faster than nominal GDP is unsustainable in the long-term.<\/p>\n

Source: Special report: Measuring China’s resurgent construction boom – MacroBusiness<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

Societie General on China’s resurgence: In our view, the most obvious underlying factor behind this recovery is credit. In Q1, increases in total credit exploded to CNY7.5tn, up 58% yoy and equivalent to 46.5% of nominal GDP \u2013 one of the highest ratios ever. Credit growth accelerated to 15.8% yoy to end-March, the quickest pace … <\/p>\n

Continue reading “China’s resurgent construction boom | MacroBusiness”<\/span><\/a><\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_mo_disable_npp":"","_jetpack_feature_clip_id":0,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[41,45],"tags":[],"class_list":["post-13177","post","type-post","status-publish","format-standard","hentry","category-china-hk","category-debt-levels"],"yoast_head":"\nChina's resurgent construction boom | MacroBusiness - the patient investor<\/title>\n<meta name=\"robots\" content=\"noindex, follow\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"China's resurgent construction boom | MacroBusiness - the patient investor\" \/>\n<meta property=\"og:description\" content=\"Societie General on China’s resurgence: In our view, the most obvious underlying factor behind this recovery is credit. 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Nomura thinks that after this year, China\u2019s days of 8 per cent-plus growth are finished, and that stimulus efforts will run into problems with CPI inflation, not to mention its own credit system..... via Nomura: China recovery unsustainable | | MacroBusiness.","rel":"","context":"In "China & HK"","block_context":{"text":"China & HK","link":"https:\/\/thepatientinvestor.com\/index.php\/category\/countries-regions\/china-hk\/"},"img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":65621,"url":"https:\/\/thepatientinvestor.com\/index.php\/2026\/08\/11\/prepare-for-china-shock-2-0-and-its-gold-impact\/","url_meta":{"origin":13177,"position":1},"title":"Prepare for China Shock 2.0 and its Gold Impact","author":"Colin Twiggs","date":"August 11, 2026","format":false,"excerpt":"Key Points China's first deflationary shock flooded the global economy with cheap labor in the early 2000s and hollowed out low-tech manufacturing industry in developed economies. A credit-fueled boom followed, with huge investment in infrastructure and real estate to sustain economic growth. A massive speculative real estate bubble developed, forcing\u2026","rel":"","context":"In "China & HK"","block_context":{"text":"China & HK","link":"https:\/\/thepatientinvestor.com\/index.php\/category\/countries-regions\/china-hk\/"},"img":{"alt_text":"China: House Price Index","src":"https:\/\/i0.wp.com\/www.incrediblecharts.com\/images\/2026\/2026-08-07-china-houseprices.png?resize=350%2C200&ssl=1","width":350,"height":200,"srcset":"https:\/\/i0.wp.com\/www.incrediblecharts.com\/images\/2026\/2026-08-07-china-houseprices.png?resize=350%2C200&ssl=1 1x, https:\/\/i0.wp.com\/www.incrediblecharts.com\/images\/2026\/2026-08-07-china-houseprices.png?resize=525%2C300&ssl=1 1.5x, https:\/\/i0.wp.com\/www.incrediblecharts.com\/images\/2026\/2026-08-07-china-houseprices.png?resize=700%2C400&ssl=1 2x, https:\/\/i0.wp.com\/www.incrediblecharts.com\/images\/2026\/2026-08-07-china-houseprices.png?resize=1050%2C600&ssl=1 3x"},"classes":[]},{"id":25902,"url":"https:\/\/thepatientinvestor.com\/index.php\/2021\/05\/19\/chinas-credit-impulse-bad-news-for-copper-iron-ore\/","url_meta":{"origin":13177,"position":2},"title":"China’s credit impulse – bad news for Copper & Iron Ore","author":"Colin Twiggs","date":"May 19, 2021","format":false,"excerpt":"From SocGen: ...... a quickly falling credit impulse in China has never been kind to industrial metal prices, among other inflation-sensitive assets. While policymakers are certainly concerned by the surging PPI, we think the blunter tool of policy rate hikes will probably have to wait. There have been two rate\u2026","rel":"","context":"In "China & HK"","block_context":{"text":"China & HK","link":"https:\/\/thepatientinvestor.com\/index.php\/category\/countries-regions\/china-hk\/"},"img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":14691,"url":"https:\/\/thepatientinvestor.com\/index.php\/2016\/12\/15\/will-chinas-financial-bust-ever-come\/","url_meta":{"origin":13177,"position":3},"title":"Will China’s Financial Bust Ever Come?","author":"ColinTwiggs","date":"December 15, 2016","format":false,"excerpt":"From Paul Panckhurst and Adrian Leung at Bloomberg: China's reading is the nation's highest on record in the gauge released by the Bank for International Settlements. It's the single most reliable indicator of looming financial crises, according to the BIS, which found in a 2011 analysis of 36 countries that\u2026","rel":"","context":"In "China & HK"","block_context":{"text":"China & HK","link":"https:\/\/thepatientinvestor.com\/index.php\/category\/countries-regions\/china-hk\/"},"img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":65544,"url":"https:\/\/thepatientinvestor.com\/index.php\/2026\/08\/03\/chinas-slowdown\/","url_meta":{"origin":13177,"position":4},"title":"China’s Slowdown","author":"Colin Twiggs","date":"August 3, 2026","format":false,"excerpt":"Key Points China's credit growth slumped to 5.2% in June, down steeply since the 2022 crash in consumer confidence. Housing investment continues to plunge, while fixed asset investment in manufacturing is now shrinking as well. Nominal GDP is growing at an annual rate of 4.1%, while 10-year government bond yields\u2026","rel":"","context":"In "Banks & Interest Rates"","block_context":{"text":"Banks & Interest Rates","link":"https:\/\/thepatientinvestor.com\/index.php\/category\/economy\/the-fed-banks-interest-rates\/"},"img":{"alt_text":"China: Consumer Confidence","src":"https:\/\/i0.wp.com\/www.incrediblecharts.com\/images\/2026\/2026-08-02-china-consumer-confidence.png?resize=350%2C200&ssl=1","width":350,"height":200,"srcset":"https:\/\/i0.wp.com\/www.incrediblecharts.com\/images\/2026\/2026-08-02-china-consumer-confidence.png?resize=350%2C200&ssl=1 1x, https:\/\/i0.wp.com\/www.incrediblecharts.com\/images\/2026\/2026-08-02-china-consumer-confidence.png?resize=525%2C300&ssl=1 1.5x, https:\/\/i0.wp.com\/www.incrediblecharts.com\/images\/2026\/2026-08-02-china-consumer-confidence.png?resize=700%2C400&ssl=1 2x, https:\/\/i0.wp.com\/www.incrediblecharts.com\/images\/2026\/2026-08-02-china-consumer-confidence.png?resize=1050%2C600&ssl=1 3x"},"classes":[]},{"id":1728,"url":"https:\/\/thepatientinvestor.com\/index.php\/2011\/11\/02\/chinas-leading-indicators-head-south-macrobusiness-com-au-macrobusiness-com-au\/","url_meta":{"origin":13177,"position":5},"title":"China\u2019s leading indicators head south – macrobusiness.com.au","author":"ColinTwiggs","date":"November 2, 2011","format":false,"excerpt":"Take a look at the [Chinese] Leading Index\u2019s sharp deterioration recently \u2013 there has been a clear and material deterioration in the leading index over the past couple of months. This suggests to us a substantial further fall in Chinese GDP. The last release of a week or so ago\u2026","rel":"","context":"In "Australia & NZ"","block_context":{"text":"Australia & NZ","link":"https:\/\/thepatientinvestor.com\/index.php\/category\/countries-regions\/australia-nz-countries-regions\/"},"img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]}],"jetpack_featured_media_url":"","_links":{"self":[{"href":"https:\/\/thepatientinvestor.com\/index.php\/wp-json\/wp\/v2\/posts\/13177","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/thepatientinvestor.com\/index.php\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/thepatientinvestor.com\/index.php\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/thepatientinvestor.com\/index.php\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/thepatientinvestor.com\/index.php\/wp-json\/wp\/v2\/comments?post=13177"}],"version-history":[{"count":0,"href":"https:\/\/thepatientinvestor.com\/index.php\/wp-json\/wp\/v2\/posts\/13177\/revisions"}],"wp:attachment":[{"href":"https:\/\/thepatientinvestor.com\/index.php\/wp-json\/wp\/v2\/media?parent=13177"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/thepatientinvestor.com\/index.php\/wp-json\/wp\/v2\/categories?post=13177"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/thepatientinvestor.com\/index.php\/wp-json\/wp\/v2\/tags?post=13177"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}