A quick graphic from BeSpoke Investment blog on the returns of the 4 BRIC countries.
Keep in mind a portion of the Chinese stimulus is being funneled into both stock market and real estate speculation... in fact the powers that be have gone ahead and quantified how much they believe it is. I'd argue the same is being done in the US at least towards the stock market but unlike the Chinese who admit it, the secretative government of the US won't ;) Always a hoot when the Chinese are more transparent than the US.... wait, wasn't that an election theme? Transparency? Contrast Chinese Government Economists with US Government Economists who are fighting even having an audit done on their all powerful entity. [Jun 29, 2009: China Business News - $170B of Bank Loans Funneled into Stock Market]
Chinese new bank loans worth about an estimated 1.16 trillion yuan ($170 billion) were invested in the stock market in the first five months of this year, China Business News reported, citing a government economist.
That's 20 percent of the 5.8 trillion yuan loans banks extended in the period, the Shanghai-based newspaper said, citing Wei Jianing, a deputy director at the macro-economics department of the Development and Research Center under China's State Council.
Where did it go? It's undeniable that a portion of the lending may have flowed into stock and real estate markets and triggered the rebound in these two markets, the former official said at a financial forum in Ningbo city in eastern China.
2 months ago [May 20, 2009: Year to Date Returns by Country - Go Peru!] the order was Russia, India, China, and Brazil - thankfully stimulus can work in many ways i.e. pushing stock markets ever upward (i.e. NASDAQ working day 11 in a row of rallying), right Larry Summers?
Anything to create the mirage of prosperity going.