Word: growth
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...know EVs, and we know the consumer will be annoyed if the experience isn't a good one," says Craver. "A bad buying and user experience could hurt EV market growth; we have to make the experience positive." (See the 50 worst cars of all time...
...numbers alone tell the story, then China appears to have beaten the odds. It has apparently shrugged off the worst global recession in at least 30 years - one that had, at the end of last year, crippled growth in a country for which exports are a critical part of its economic lifeblood. The government responded by announcing a $585 billion spending package, driven by massive infrastructure investments across the country, and, for now anyway, that policy is paying off. China announced today that its GDP in the second quarter grew at 7.9%, just a shade below the 8.1% goal...
...That acceleration - GPD growth was just 6.1% in the first quarter - is unmistakably good news for China's major trading partners, particularly those countries in Asia that export raw materials to China's manufacturers. Imports of semifinished industrial metals in the quarter soared by more than 35%, as China's stimulus-driven infrastructure build-out gathered steam. Overall fixed-asset investment picked up 33.5% year over year, a pace that recalled the country's glory years of double-digit economic expansion. (See pictures of life on the fringes of the People's Republic...
...Much of that investment growth came from the brute force of the government, which is directing bank loans to state-owned companies, which in turn have been building everything from high-speed rail networks to new highways and bridges across China. But economists were quick to note that other sectors of the economy besides construction now seem to be joining the party. In particular, property investment rose by nearly 18% in the quarter, well above what many economists had expected...
...analysts still skeptical of China's recovery story, major questions hung over the announcement today. One concerns long-standing doubts about the reliability of government economic data - what one U.S. hedge-fund manager calls "the Beijing fudge factor." In the first quarter of this year, Beijing reported 6.1% GDP growth, but electricity consumption overall in the country appeared to decline. How a country the size of China could grow by 6% yet use less electricity was puzzling. And in the first six months of this year, overall rail-freight traffic declined in China. Again, how that squares with accelerating growth...