Monday, May 19, 2014

China fact of the day

From FT via MR,
In just two years, from 2011 to 2012, China produced more cement than the US did in the entire 20th century, according to historical data from the US Geological Survey and China’s National Bureau of Statistics.
In an indication of just how exposed China’s economy is to a property downturn, Moody’s Analytics estimates that the building, sale and outfitting of apartments accounted for 23 per cent of Chinese gross domestic product last year. That is higher than in the US, Spain or Ireland at the peaks of their housing bubbles.

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