Are We There Yet?
The Growth of Consumer Credit
On April 16th, the National Bureau of Statistics announced retail sales in the first quarter grew by 20.6 percent. Elsewhere, a March survey conducted by Credit Suisse argued that Chinese economic growth had reached a 'tipping point' increasingly driven by private domestic consumption. Such developments have been the goal of both state and corporate interests for many years now. These increases can be explained in many ways: higher incomes, confidence about future income prospects... Read More
