If you believe the expert quoted in this Bloomberg story – he is Barton Biggs, who runs New York-based hedge fund Traxis Partners LP — there could be a better than thirteen point spread in the growth rate of the economy this year in China versus the United States. Many economists followed by Bloomberg are saying China’s economy will grow by 8% this year while our economy will contract by 2.5%. This will continue to require compliant labeling.

Mr. Biggs is saying the consensus forecast is off:

“In terms of China, GDP growth is going to be 2 to 3 percentage points higher than the consensus,” he said.

I say either way you look at it, China’s emerging market economy would be a good place to seek expansion of product sales for goods made in America. But is Mr. Biggs right or is he guessing? Is this a shot in the dark? Bloomberg’s news item seems to anticipate the question, and answers it this way:

In a May 29 interview, Biggs said Chinese stocks were the most attractive worldwide as the global economy recovers, while U.S. 10-year Treasury notes were a “buy” because inflation would remain subdued. China’s Shanghai Composite Index has since climbed 17 percent.

With that kind of track record, it may make sense to appreciate this financial expert’s overall view of emerging markets, also noted in the feature:

“The emerging markets, particularly Asia, are the growth area of the world and they’re emerging from the financial crisis faster than any other part of the world.”

In a May 29 interview, Biggs said Chinese stocks were the most attractive worldwide as the global economy recovers, while U.S. 10-year Treasury notes were a “buy” because inflation would remain subdued. China’s Shanghai Composite Index has since climbed 17 percent.