China Infrastructure Report Q2 2014 - New Market Study Published
We continue to hold the view that the recovery in China's construction activity in 2013 will not be sustainable in 2014 - we forecast construction real growth falling from 6.6% in 2013 to 5.1% in 2014. The key reason for this outlook is that the basis for this increase in fixed asset investment is increased liquidity in China's financial system, an unsustainable investment model due to the diminishing marginal return on expenditure. The Chinese government is implementing reforms that could...
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