Expect plenty more growth for China - Yahoo! News

Expect plenty more growth for China - Yahoo! News: "Xie’s interesting shtick is that China is far less reliant on trade with the U.S. than in the past. It is selling heavily to places like Africa, India and Russia, which now have cash to buy. South-South trade, as it were, is becoming a reality. And this will keep China’s economy churning. Here are some excerpts: “Everybody in the world has too much money except the United States. Think about it. Even Russia has a $500 billion in foreign reserves. Even India has over, like, $200 billion in foreign reserves. India never had that kind of money before. This has very important implications for what happens next year. Emerging economies do not need to cut back. They can expand. You go to Dubai, and it’s a bubble. Yes, it is a bubble. But they have money, it’s their own money. They are not borrowing money... “Even Africa has a lot of money. So emerging market trade in China is already half of China’s trade growth. As American consumers need to rest, need to pass, suddenly emerging market trade is happening. And emerging market trade is right up China’s alley because emerging markets export commodities, exactly what China needs - oil, copper, iron ore – exactly what China needs. And China exports cheaper consumer products and on"