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1.Market Observations

7 March 2012 – Once was racing, now chugging along

(7 March 2012, AFR, p14, Keith Bradsher, Guangzhou, from The New York Times)

In China, Sobering Signs of Slower Growth

‘GUANGZHOU, China — The nights are a little darker now here in the main metropolis of southeastern China, at the center of one of the country’s largest export hubs. ‘

‘It is but one sign of the slightly dimmer economic outlook for China that Premier Wen Jiabao forecast on Monday, when he reduced the government’s minimum growth target for 2012 to what would be, if growth fell that far, the lowest rate in more than two decades.’

‘Construction sites across Guangzhou used to be floodlit, so that work could continue through the night on the forests of new residential and office towers reaching toward the stars. But now, during a nationwide real estate downturn, builders are not starting projects or scrambling to finish ones already under way, so there is little need for night-work illumination.’



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