Manufacturing accounts for just under a third of investment and it increased by 31 percent this year. Two big-ticket items--electric power and road building, accounting for a combined 10.5 percent of investment--were up by just 4 percent this year. But the biggest chunk of investment--real estate which accounts for 27 percent of investment--was up 34 percent. Furniture manufacturing investment was up 49 percent--watch out U.S. furniture factories if there are any of you left--but textile and apparel investment grew less than 20 percent.
China has a history of boom-bust cycles. The last bust in the late 1990s left a lot of unfinished hulks on the skylines of Chinese cities. The current boom has gone on for an unsually long time and has been incredibly vigorous. Is China different now? Has it gotten over the hump and become a world-beating economy? Or will this be the next bubble to pop? Who knows?
Share of investment
Agriculture, forestry, fisheries
Apparel, shoes, hats
Leather, furs, feathers
Note: Not a complete list