"From the latest letter from Goldman's Jim O'Neill, a jaw-dropper of a stat...
at http://www.businessinsider.com/jim-oneill-china-has-already-created-half-of-the-economy-of-greece-in-just-the-first-6-weeks-of-2012-2012-2?utm_source=feedburner&utm_medium=feed&utm_campaign=Feed%3A+clusterstock+%28ClusterStock%29#ixzz1m6ATcuhW
This past week, the 6 in the year 2012, has displayed a slightly different character to the previous 5 weeks with the equity markets losing their strong upward momentum. There have been some understandable reasons for this, not the least of which is the never-ending saga of Greece, which I shall discuss a bit more below, and the related challenges about resurrecting a credible and permanent European Monetary Union (EMU) from this mess. Despite this, my main message is – once again – to please keep this in perspective. Greece’s economy is somewhere between $300 to $350 bn. Last year alone, China’s GDP increased by $1.4 trillion, to $7.3 trillion. I reckon that means China has created the economic equivalent of another ½ of Greece in the 6 weeks of 2012 to-date. It is also the case that the evidence about a self-sustaining recovery in the US continues to build after yet another decline in weekly job claims, a rather reliable indicator..."
at http://www.businessinsider.com/jim-oneill-china-has-already-created-half-of-the-economy-of-greece-in-just-the-first-6-weeks-of-2012-2012-2?utm_source=feedburner&utm_medium=feed&utm_campaign=Feed%3A+clusterstock+%28ClusterStock%29#ixzz1m6ATcuhW
