12 Charts On China's Chagrin

Tyler Durden's picture

While some believe we can decouple from the primary and secondary impacts of a China slowdown (jst what happens if we all decouple from the world?), it seems like wishful thinking that the growth engine of the world can now be waved aside on the back of "well, they will just re-stimulate and will be well" especially given where oil prices are currently. Michael Cembalest is little more sanguine that us on China's growth  (expecting 7-8% GDP growth to fuel Asian economic activity) but given the 'easing' that has already occurred in China: Chinese government has injected more liquidity; expanded the quota for foreign equity investment; cut bank reserve requirements; delayed tighter capital adequacy rules; created a program through which municipalities can issue bonds with government guarantees (rather than having to borrow from banks); eased first time homebuyer restrictions; and injected capital into its biggest banks; and yet still the macro data is leaking weaker as these 12 charts highlight only too harshly.


Source: JPMorgan

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Mercury's picture

Interesting: AAPL can drive up air freight rates from China 20% when they want to get a new product to market :http://operationsroom.wordpress.com/2012/03/06/apple-drives-up-the-price...


Ahmeexnal's picture

ZH won't allow chinese characters on posts?

oh well....here it is:


Spirit Of Truth's picture

The silence in the mainstream media regarding a possible military coup in Beijing is deafening: ThePeoplesRepublicOfChina.com

Not sure what's going on, but Art Cashin was on the ball early.

walküre's picture

Is it any wonder that more and more Chinese take money out of China and buying RE along the Westcoast from Vancouver to San Diego? They are preparing for the worst. Before Hongkong was returned to Beijing, the same thing happened. Now Beijing controls Hongkong and those that can, are setting up refuge residences along the Westcoast. No other explanation for the surprisingly solid RE markets in certain pockets along the Pacific Rim. Price doesn't matter when you've got millions of cash to convert into anything tangible PLUS your family lives in a relatively safe place. It's remarkable that basically nobody is pointing out the obvious as to why the Chinese are snapping up every new condo in the West. Sure, they say its for investment purposes. Chinese aren't allowed to hold title in China. They lease from the government for 99 years. Maybe someone can research this. In the US and Canada they buy and they own the title clear and free. If the political scene gets hotter in China, the RE markets on the Westcoast are going ballistic.

laomei's picture

That's because it was a falun gong hoax attempt.  Anytime you see a story starting on epoch times, it's bullshit.



laomei's picture




It was bullshit. That's the source of the claimed photo.  As for the police presence, that's what happens on Chang'an everytime an official is coming in from or heading off to the airport for an official visit.   It's pure tripe.

Wu Qi Ming's picture

Yeah, it's bullshit. If it was true the government would have shoved corks into the internet tubes, cut the phone lines and had TV broadcast soothing ocean sounds. None of that happened.

Still, had me going for a little, it was plausible.

Matt's picture

RE: article on thepeoplesrepublicofchina.com

5,000 rifles, 50,000 bullets for a private army. 10 rounds per rifle. Guess this private army gets no time on the gun range, and can only shoot if absolutely neccessary. If they were serious, they'd need more like 5 million rounds, minimum. 1000 rounds is a weekend at the range.

Dr. Engali's picture

Nothing a little money printing won't take care of.

Vince Clortho's picture

PHDs in Keynesian Economics understand the solution to these things, much like the traveling snake-oil salesman from days of old sold a single product that could cure any ailment, even cancer.

S474NtheD3v1L's picture

I dont know how to read your "fancy" economic charts,

but they all look bullish to me

print on

Ahmeexnal's picture

not as tasty as flied loundeye.

Sudden Debt's picture

Passenger car sales went up but personal loans dropped... Think about it...

LawsofPhysics's picture

Yes, Chinese spending real savings, that has actually increased in purchasing power, before the yuan is hammered again by the state.  Even the Chinese know the debt is not money. Imagine that.  FYI, they have also been buying gold.

walküre's picture

40% American homeowners with no or negative equity in their shags will pick up the slack of the Chinese debt mule and make several major investments this year. All indicators are showing growth in the US.. or so they keep telling themselves.

Nevermind that those indicators are typically lagging and the sky is always perkiest blue before the free fall down.

China's coming contraction. Straw meet camel's back. Nothing can compensate for the loss of China's growth and the number fudgers on Wall Street are screwed.

Broken camel's back meet gravity.

carbonmutant's picture

Would be nice to see an employment chart...

Dick Darlington's picture

So, is China decoupling or recoupling now? There's so many pundits out there constantly talking abt all type of coupling that simple persons like myself get very confused. =)

Clowns on Acid's picture

Don't worry the Chinese are expert central planners. Ben is just going to ship them some Helicopters to distribute their newly printed fiat even faster.

Ben is learning from the chinese how to keep the facsist elites in power.

Buy, buy, buy Jim Cramer says. This is all bullish.

Until it isn't....

bonnenouvelle's picture

you know what, we start printing money and every chart here will be upside down in several months; or we start printing newspapers, it takes only several minutes

Chump's picture

It's just because of all their US Citizenism...derp derp.

ClevelandJanelle6's picture

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Youri Carma's picture

Nobody escapes the wrath of bubble economics!

hensonlorry's picture

I do not know how to get these data,but the china becomes more strong in any field at present.

But any way, thanks for your blog . underwear mens underwear