China’s Economy — One Month Does Not a Trend Make
China GDP rose only 7.4% last quarter, a disaster by the standards of the People’s Republic. Analysts put on a brave face. September was OK, they said. Industrial production moved higher by 9.2% in the month. Fixed asset investment in…
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For China, the open issue remains where its exports will go and who within the nations buys goods and services. The slowdown of exports almost certainly has hurt most manufacturers. Fear of a slowdown almost certainly has undercut consumer activity. It is not, as the overused saying goes, a “perfect storm,” but if the world’s economy continues to sputter, it is close to one.
The IMF and World Bank have revised their estimates of China growth downward — as low as 8%. If its economy can recover to that level from the 7.4% of last quarter, it will be a start. But it will only be a start , and its sustainability is suspect.
Douglas A. McIntyre
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Douglas A. McIntyre is the co-founder, chief executive officer and editor in chief of 24/7 Wall St. and 24/7 Tempo. He has held these jobs since 2006.
McIntyre has written thousands of articles for 24/7 Wall St. He is an expert on corporate finance, the automotive industry, media companies and international finance. He has edited articles on national demographics, sports, personal income and travel.
His work has been quoted or mentioned in The New York Times, The Wall Street Journal, Los Angeles Times, The Washington Post, NBC News, Time, The New Yorker, HuffPost USA Today, Business Insider, Yahoo, AOL, MarketWatch, The Atlantic, Bloomberg, New York Post, Chicago Tribune, Forbes, The Guardian and many other major publications. McIntyre has been a guest on CNBC, the BBC and television and radio stations across the country.
A magna cum laude graduate of Harvard College, McIntyre also was president of The Harvard Advocate. Founded in 1866, the Advocate is the oldest college publication in the United States.
TheStreet.com, Comps.com and Edgar Online are some of the public companies for which McIntyre served on the board of directors. He was a Vicinity Corporation board member when the company was sold to Microsoft in 2002. He served on the audit committees of some of these companies.
McIntyre has been the CEO of FutureSource, a provider of trading terminals and news to commodities and futures traders. He was president of Switchboard, the online phone directory company. He served as chairman and CEO of On2 Technologies, the video compression company that provided video compression software for Adobe’s Flash. Google bought On2 in 2009.
