Jim Chanos is due to pitch up at CNBC this pm (am in US), i.e. in a few hours. It will be interesting to hear him "update" China's impending housing collapse that he predicted with so much conviction some 1 year ago.
I look at Amazon, the real and virtual stores that are selling everything from shoes, electrical goods, household hardware and they're all manufactured in China. So, my instincts tell me that China could be back at 10+% GDP growth, instead of a 7-8% that the government is planning on.
What is interesting is that many of the goods sold at these stores are no longer branded/manufactured by the likes of Nike, Philips, Moulinex, Siemens, etc but European sounding names, but manufactured by the likes of Anta Sports, Belle International. As for what goes inside a Renault, VW or even a BMW or Merc, I suspect they could have a lot of stuff from the likes of Minth Group......and the trend is just starting. Just look at Nike's recent stock price performance.... |
