China odds and ends

chinese 12 months lending

From Grant’s Interest Rate Observer; China’s lending spree (lending has doubled over a span of a few quarters!):

“The Shanghai A-share market jumped by 65% in the first half, to a level that fixes its value at 31 times trailing net income, up from 12.8 times at the October lows. Chinese M-2 was 25.7% larger in May than it was a year before.

“Since 2005, China has generated 73% of the global growth in oil consumption and 77% of the global growth in coal consumption.”


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