# Professor Michael Spence's recent remarks on China's consumption are featured

1 Faculty News November 4, 2015 ![Bloomberg logo](/sites/default/files/styles/246w/public/assets/images/bloomberg_0.jpg?itok=qy2YlnxP)>

Excerpt from [Bloomberg](http://www.bloomberg.com/news/articles/2015-11-04/the-good-the-bad-and-the-ugly-in-china-s-provincial-economies) -- "The baton has been passed from investment to consumption, according to [Michael Spence](http://www.stern.nyu.edu/faculty/bio/a-michael-spence), the Nobel laureate and economics professor at New York University’s Stern School of Business. China’s household consumption is increasing to about 50 percent, and that’s supporting relatively high-speed growth, he said in a speech in Beijing on Wednesday."

[Read more](http://www.bloomberg.com/news/articles/2015-11-04/the-good-the-bad-and-the-ugly-in-china-s-provincial-economies)

Additional coverage appeared on [Bloomberg](http://www.bloomberg.com/news/articles/2015-11-04/the-bear-case-for-china-sees-pboc-following-fed-to-zero-rates).