Economists scrutinize the major Chinese indicators like meteorologists observe pressures, air masses and temperatures when they are on the verge of giving rise to the most powerful hurricanes.
The data from China thus announce an industrial storm across the world, a real macroeconomic bomb, for Europe in particular.
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The Middle Kingdom is in fact strengthening its productive apparatus at an unprecedented pace.
“
Investments in the manufacturing sector have increased by 30
% since 2019
,”
explains Anthony Morlet-Lavidalie, economist at Rexecode.
Faced with the deep crisis in its real estate sector, China reallocated the credit that fueled it to the industrial sector with spectacular speed.
Since 2020, the curves intersect with perfect symmetry.
From 6% per year, the growth of real estate loans has fallen to zero, while those which grow factories are increasing annually by more than 5% against less than 1%…
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