The Chinese Economy
The growth of Chinese economy slowed down in an unprecedented way as a cumulative effect of the global economic crisis. Probably the hardest hit part in China was the manufacturing sector. The industrial production plummeted to a large extent due to lack of demand in foreign markets. However, the Chinese government is now making plans to bring the national economy back on track by giving a boost to the economy.
The Government Plan
The government has decided to boost up the rail, road and other infrastructure development projects in the first half of 2013. Moreover, a report from the National Bureau of Statistics will be published shortly to indicate that the GDP has overcome the three year low level of 7.4 percent and has climbed to a rate of 7.8 percent. It is reported that the report is also going to include the rise in factory output from 10.1 percent in November to 10.2 percent in December. Retail Sales has also increased by 15.1 percent.
Good News for Binary Traders
All this data when put together is bound to bring some smiles on the faces of binary traders. After months of trepidation they are now seeing the scope of earning some profit. However, some traders are of the opinion that the effect of the boost from the government may lose steam in the latter half of 2013 and then the Chinese economy may again slip back to a slower growth rate. It is not known for certain what is going to happen in future, but binary traders are thinking of making hay while the sun offers some hope.
The Global economic crisis is not yet over. Though the Fiscal Cliff in the US has been averted, at least for the time being, the whole economic situation still remains largely volatile. The Chinese economy has never been in the state of the debt stricken European countries but it has not been able to save itself completely from the heat of the global economic crisis as well. Binary traders should maintain a close vigil on the market in order to take the right decision at the right time.