China's Premier Li has flagged that he could back away from any GDP growth target (We are not preoccupied with GDP growth) as long as he is getting the...
John Robertson
PortfolioDirect
China's Premier Li has flagged that he could back away from any GDP growth target (We are not preoccupied with GDP growth) as long as he is getting the all-important employment outcome on which his political future hangs. Both GDP and employment growth potential should be seen against the evolution of the Chinese economy (highlighted in the chart) in which the size of the services sector has exceeded the size of manufacturing and mining for the first time. While important linkages between manufacturing growth and services growth will remain (as they do everywhere else), China will rely increasingly on a self sustaining services economy for its employment growth in the future. The economy is not standing still. It would simply be coincidence if the existing GDP growth target was required to keep the urban unemployment rate under the 4.6% target.
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John Robertson is Chief Investment Strategist for PortfolioDirect a provider of resource sector investment stock ratings and portfolio strategies for mining and oil and gas investors. He has worked as a policy economist, corporate business strategist and investment market professional for over 30 years after starting his career as a Commonwealth Treasury economist in Canberra. Since being Australia's top-rated commodities analyst and chief economist at one of Australia' leading stockbroking firms, he has advised companies across the mining, consumer products, IT and biotech sectors on their equity market relations. He leads the firm's investment evaluation and security structuring activities on behalf of the Australian Small Scale Offerings Board (ASSOB), the world's first equity 'crowdfunding' investment platform. John Robertson discusses the interaction of mining and investment markets in his weekly 'From the Capital' column in Mining Journal.
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John Robertson
PortfolioDirect
John Robertson is Chief Investment Strategist for PortfolioDirect a provider of resource sector investment stock ratings and portfolio strategies for mining and oil and gas investors. He has worked as a policy economist, corporate business...
Expertise
No areas of expertise
John Robertson
PortfolioDirect
John Robertson is Chief Investment Strategist for PortfolioDirect a provider of resource sector investment stock ratings and portfolio strategies for mining and oil and gas investors. He has worked as a policy economist, corporate business...
Expertise
No areas of expertise
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