Todays chart was buried in BHP-Billiton’s interim result presentation from yesterday and made for interesting contemplation:
This is based on BHP internal analysis and confirms to them the “structural driver of industrialisation and urbanisation”. Interestingly the chart shows the southern provinces (not including the Far Southern Province of Gwalia) growing at slightly less rates than internal provinces. This is not up to date, based on the 2010 data range shown on the chart, so a quick GoogleQuest brought up the following chart, updated for 2011 GDP results:
And by province:
As for 2012, it is expected that 19 provinces will surpass 10 percent growth, with the Western regions forecasting the most (13-15 per cent) with Beijing and Shanghai the lowest at around 8.5 percent.
So it looks like more than just Australia has a two speed economy, except in China, its “fast” and “bloody fast”.