In fact, Pareto Securities found that Chinese implied oil demand came in at an all-time high of 9.8 million barrels per day in September.
The apparent efforts to conceal the wealth reflect the highly charged politics surrounding the country’s ruling elite, many of whom are also enormously wealthy but reluctant to draw attention to their riches. When Bloomberg News reported in June that the extended family of Vice President Xi Jinping, set to become China’s next president, had amassed hundreds of millions of dollars in assets, the Chinese government blocked access inside the country to the Bloomberg Web site.
“In the senior leadership, there’s no family that doesn’t have these problems,” said a former government colleague of Wen Jiabao who has known him for more than 20 years and who spoke on the condition of anonymity. “His enemies are intentionally trying to smear him by letting this leak out.”
That's simply because they are stocking up whilst prices are down.In fact, Pareto Securities found that Chinese implied oil demand came in at an all-time high of 9.8 million barrels per day in September.
A interesting read on China's economy...
Yes it is a sales page for a $89 report but it has good info on China so please ignore the buy button. I get their reports for free and they provide interesting research but no real trading advice there, you will be late following their recommendations. You have been warned.
Zhu told me that ''Western values'' like democracy, human rights and freedom are self-serving constructs of the West's hegemonic capitalist class. These ideological weapons are dressed up as ''universal values'' and deployed to infiltrate and brainwash Chinese people via non-government organisations, media platforms and the children of top leaders. This, he said, is the root cause of the ideological warfare that is now raging across China. ''Universal values and red culture are in conflict,'' said Zhu.
Read more: http://www.theage.com.au/world/the-fear-of-freedom-20121110-294yp.html#ixzz2BtmoyI8e
The manufacturing sector fell 9.6 percent on quarter, following flat growth in the preceding quarter. This was largely due to contraction in the electronics manufacturing cluster, the MTI said. On a year-on-year basis, the manufacturing sector declined 0.8 percent, compared to the 4.6 percent expansion in the previous quarter.
The construction sector climbed 7.7 percent on year, slowing from 12.3 percent in the preceding quarter. On a quarterly basis, the sector contracted by an annualized rate of 17.2 percent, due to a decline in private sector building activities.
Currently sticking it's head down through the ground asking the question -
Am I a basket case or not?
View attachment 49709
Even before the congress, the central bank had moved to ease liquidity by pumping short-term cash into money markets rather than resorting to the interest rate cuts or reduction in banks' required reserve ratios that many investors had expected.
It would be better if the 'recovery' was organic, but just like every other central bank has done, it will rely on continued 'support'?
Yes and with so much intrenched evil in the Chinese communist dictatorship the risks are still huge and hard to see ever being overcome in a peaceful organic way!
We should never compromise basic human rights etc for business or out of fear of upsetting them, that's just pathetic.
They have no hesitation to treat us any way they can and they have no scruples about the lengths they will go to.
What ever they feel they can get away with they will do it without conscience.
They think human rights are a political weapon!
That's like the Chinese saying we are actually inhumane - inhuman.
http://www.theage.com.au/world/pressure-mounts-on-carr-over-china-rights-abuses-20121124-2a0d6.html
Yes and with so much intrenched evil in the Chinese communist dictatorship the risks are still huge and hard to see ever being overcome in a peaceful organic way!
We should never compromise basic human rights etc for business or out of fear of upsetting them, that's just pathetic.
They have no hesitation to treat us any way they can and they have no scruples about the lengths they will go to.
What ever they feel they can get away with they will do it without conscience.
They think human rights are a political weapon!
That's like the Chinese saying we are actually inhumane - inhuman.
http://www.theage.com.au/world/pressure-mounts-on-carr-over-china-rights-abuses-20121124-2a0d6.html
It is a softer form of the slave culture that exists in North Korea.
China’s state-run media! failed to recognise the joke of a western satirical magazine called The Onion which ran a piece naming the North Korean dictator “sexiest man alive.” China’s Communist Party news site totally ran with it with a 55-page photo spread of Kim Jong-Un, The Chinese believed that the Onion had seriously named him "The Sexiest Man Alive". China's Daily quickly withdrew the story when they realised The Onion was making a sarcastic joke!!
Quoting the Onion's spoof report, the Chinese newspaper wrote: "With his devastatingly handsome, round face, his boyish charm and his strong, sturdy frame, this Pyongyang-bred heartthrob is every woman's dream come true." - China Peoples Daily
But, hey, it works. Presently they are the happiest slaves in Asia. I spoke to a few recently on holiday in Cairns, and they only talked about money, which is the new socialism in China. It works and will continue to work until the owners undo themselves.
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