China: "The Writing on the Wall" by Will Hutton

[dream_waker]

Anyone with half a brain knows that China is nothing more than a sweatshop for the American market.

The Chinese are simply too thick to ever be able to develop markets of their own. They aren't even good copycats.

Like I say before, the previous Leongsam is really good when it comes to sarcasm, you have a lot to learn from him. The previous LS do insult China but it definitely won't sound like what you wrote above. You must be yourself in order to be a successful Leongsam.

 

[dream_waker]

To make a point. Big economic numbers do not establish a strong nation with a global reach. The political, social, judicial institutions and other aspects like transparent institutions, free speech and governance in a democratic system are the basic essentials.

Hey, your usa and her funcking conman bank is collapsing like pack of card, go sell your democracy in Africa, it can probably still con the illiterate peasant there.

 

[VIBGYOR]

Its productivity is poor; it lacks international champions; its innovation record is lamentable; it relies far too much on exports and investment to propel its economy. To characterize China as an unstoppable force whose economic model is unbeatable - is to make a first-order mistake.

Just a side note. If you are not Chinese, I think you may have a serious problem with your character if you consistently dwell on other races failures with great pleasure.

That applies to you too Leongsam!

 

[GoFlyKiteNow]

It is about facts. Not about race. You idiot.
So get that objectivity part of your brain into gear. ( if you have one that is ).

Time and again, I have been saying this. The PRC was touted as the next big thing
in global economic force...that will be the engine of growth for the global economy.

Well, now we can see how weak and fragile that economy of PRC really is and how that
hype has now been exposed. Especially the countless number of leaders, pundits
and financial analysts, who have been singing that hype song for years, with the
semblance of a wolf pack mentality.

They have all been proven wrong. PRC cannot and will not be an economic super power.
It does not have the necessary intangibles that underpin any economy with confidence
and trust.

How come all these idiot pundits could not see this fact all these years.?.
Because, they are all shallow insipid half baked pundits walking around
with a "know all" attitude.

 

[UpYoz_olo]

i tend to see things differently.

Over the last decade, China and in some ways Vietnam has change the world's perception in prices of consumer goods. They have basically brought the prices down to a level where it is no longer reasonable for any consumer to expect to pay much more. The economy in the west, will not pick up unless there is drastic increase in consumption. And consumption will not increase if prices of goods are not "chinese pricing", like it or not.

Secondly, we look at the population in china, and have to realise this. With proper subsidies from the chinese govt, the economy there can actually survive on domestic consumption. for example, a 3% GDP given out to the people in China, will yield more results than say the same amount of money given to US.

No one in this economic crisis is doing well, that is the fact that we have to accept. But my gut feel is China will probably do better then the rest of us.

I hate to pour cold water on your optimism and favourable incline towards China. What you ignorantly discounted was that a lot of Chinese wealth is locked up within US of A. A consequence meaning China worries more than Obama about whether US of A comes out of the crisis at all. US of A can pull $$ from China at will, viz sales of BOC shares, etc. Can China do the same?? Think about it deeper before parrotting others' lines. All it takes is for US of A to default on the 'reserves' China is holding; you think this won't happen?

Now, what was the % GDP you say China can spend on internal consumption again?

This time I use only one :oIo:

 

[makapaaa]

[

Now u understand why my dogs said that retrenching FTs will "hurt" locals? And why I've instructed them to attend to any unhappy FT first and arrest any Sporns who wanna protest? Fcuk off!​

 

[GoFlyKiteNow]

12 Jan 2009

Indian Foreign Minister Mukherjee, while addressing a joint press conference with British Foreign Minister David Miliband after their talks here, was responding when asked whether the Satyam issue could have an adverse impact on the Indian IT sector in terms of investor confidence.

He underlined that the Indian economy's "basic fundamentals are strong" because of which it has been possible to maintain a "reasonable growth" despite the meltdown.

He said India's growth is expected to be 7-7.5 per cent this year despite the global meltdown, mainly because of high rate of domestic savings and high rate of interests.

"37 per cent is the rate of investment and 35 per cent is savings and marginal (money) is coming from external sources,"Mukherjee said, adding "We have been able to overcome the impact of the meltdown."

Britain said India's economy is quite strong and "one badapple" does not mean the "whole barrel is bad".

British Foreign Minister David Miliband expressed confidence that Indian authorities will deal with the Satyam case "very clearly and very appropriately" as he underlinedthe need for implementation of Indian laws of corporate governance in a "hard-headed and clear way".

 

[GoFlyKiteNow]

For the past 30 years, the Pearl River Delta — known as the world's factory floor — has been a major base for labor-intensive industries producing shoes, textiles, toys, sporting goods and other low-end goods.

But in recent years, the export-driven factories — many of them owned by Hong Kong and Taiwanese investors — have become less competitive as costs for labor, land, energy and raw materials have risen. China has been encouraging the low-end manufacturers to move to interior provinces, where costs are cheaper.

In recent months, as the economy has slowed amid waning global consumer demand, the government refused to help many of the struggling small- and medium-sized factories making shoes, toys and textiles, causing them to fold or relocate.

Last year, 62,400 enterprises and branches of companies closed in Guangdong, 4,739 more than in 2007, Huang Longyun, vice governor of Guangdong, told reporters at a briefing in Beijing on Thursday. Some 600,000 migrant workers left the region last year as factories closed and business slumped, he said.

National Development and Reform Commission Vice Chairman Du Ying added that the road ahead would be difficult. "It looks like that the further development of the whole Pearl River Delta area is facing grave challenges," he said at the Beijing briefing.

The closures of the low-end manufacturers will make room for high-end industries, especially carmakers, petrochemical firms and companies specializing in technology and services.