PRC Economy and Industry: News and Discussions

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Re: PRC Economy and Industry: News and Discussions

Postby naren » 22 Jul 2010 12:43

Purush wrote:Amazing pics of the chinese oil spill including a few of a man being rescued from drowning in the oil :eek:
http://www.boston.com/bigpicture/2010/0 ... china.html

A must-view image set.


Image

A firefighter who was submerged in thick oil during an attempt to fix an underwater pump :eek: is brought ashore by his colleagues in Dalian, China on Tuesday, July 20, 2010. (AP Photo/Jiang He, Greenpeace) #

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Re: PRC Economy and Industry: News and Discussions

Postby Singha » 22 Jul 2010 14:49

a PIO is also in jail for selling cruise missile IR exhaust suppression tech from a hawaiian facility to PRC.

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Re: PRC Economy and Industry: News and Discussions

Postby manish » 22 Jul 2010 16:30


Huawei won't be/can't be touched. Netzilla tried in 2003. Many others have tried before and failed. First off, the co doesn't seem to care much about bad PR, esp in NA. They seem a lot more sensitive to bad press in India than in NA. The scene in 2010 is slightly different from 2003 in the sense that Huawei has a a bit more at stake in the NA market now compared to the near zero levels of exposure it had earlier. But the levels are still a mere drop in the ocean when Huawei's total sales are concerned.

Plus, and most importantly, Huawei is one of the 800 pound gorillas in PRC's pantheon of National Champions, and a feel-good 'Privately owned' one at that. Many believe netzilla was arm-twisted into 'settling' its lawsuit out of court by the CCP. This is a key thing to consider.

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Re: PRC Economy and Industry: News and Discussions

Postby rsingh » 23 Jul 2010 01:51

Age structure:
0-14 years: 20.1% (male 142,085,665/female 125,300,391) (2008 est.)
15-64 years: 71.9% (male 491,513,378/female 465,020,030) (2008 est.)
65-over: 8% (male 50,652,480/female 55,472,661) (2008 est.)

Households

* Average household size: 3.1
* Total households: 351,233,698
o Of which are family households: 340,491,197 (96.9%)
o Of which are collective households: 10,742,501 (3.1%

Household income and expenditure

* Average household size (2005) 3.1; rural households 3.3; urban households 3.0.
* Average annual per capita disposable income of household (2005): rural households Y 3,255 (U.S.$397), urban households Y 10,493 (U.S.$1,281).
* Sources of income (2003): rural households — income from household businesses 75.7%, wages 19.1%, transfers 3.7%, other 1.5%; urban households — wages 70.7%, transfers 23.3%, business income 4.5%, other 1.5%.
* Expenditure: rural (urban) households — food 45.6% (37.1%), housing 15.9% (10.7%), education and recreation 12.1% (14.4%), transportation and communications 8.4% (11.1%), clothing 5.7% (9.8%), medicine and medical service 6.0% (7.1%), household furnishings 4.2% (6.3%).

Urbanization in the People's Republic of China increased in speed following the initiation of the reform and opening policy. At the end of 2009, mainland China's total population was 1.334 billion, with 712 million (53.4%) and 622 million (46.6%) residing in the rural and urban areas respectivel


In short 712 million (53.4%) of Chinese population resides in rural areas. earning 397 usd/year. Able bodied (15-65) are more or less 500 millions. And most of earning is spent on food and housing. How can these people dream of broad band connections and cars. Western companies claim about market of 800 millions broad band connection is blah blah. World has to stop worring about "how 1 billion cars will pollute the world" because it is not going to happen.

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Re: PRC Economy and Industry: News and Discussions

Postby shynee » 23 Jul 2010 02:09

Couple charged with GM hybrid tech theft
Yu Chin and his wife Sanshan Du of Troy, Mich., have been charged with, among other things, unauthorized possession of trade secrets and wire fraud.

According to the charges, from December 2003 to May 2006 Du conspired to obtain trade secrets about the automaker's hybrid vehicle technologies and passed that information to her husband who used it for the couple's own company, Millennium Technology International (MTI).

In January, 2005 GM offered Du a severance package. About five days later, she copied thousands of GM documents to a computer hard drive used for MTI business, authorities allege.

MTI later entered into a business venture to provide hybrid technology to the Chinese automaker Chery Automobile, a company that is a competitor of GM's in China.

In May 2006, the couple drove to a dumpster behind a grocery store where they discarded bags of shredded documents related to the case, authorities charge.

GM estimates the stolen information to be worth about $40 million, according to an announcement from U.S. Attorney's Office for the Eastern District of Michigan.


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Re: PRC Economy and Industry: News and Discussions

Postby Muppalla » 28 Jul 2010 19:47

Convicts for Export

China has devised a novel strategy to relieve pressure on its overcrowded prisons: employ convicts as laborers on overseas projects in the developing world. The practice has exposed another facet of China’s egregious human-rights record, which, when it comes to the overseas operations of Chinese companies, includes the government’s failure to enforce its own regulations.


...
...

The 2009 “World Prison Population List” compiled by the International Center for Prison Studies at King’s College, London, put the total number of inmates in Chinese jails at 1.57 million – larger than the population of Estonia, Guinea-Bissau, Mauritius, Swaziland, Trinidad & Tobago, Fiji, or Qatar.


...
...

Thousands of Chinese convicts, for example, have been pressed into service on projects undertaken by state-run Chinese companies in Sri Lanka, a strategically important country for China as it seeks to enhance its regional position in the Indian Ocean. After providing Sri Lanka’s government with offensive weapon systems that helped end the country’s decades-long civil war, China has been rewarded with port-building, railroad, and other infrastructure projects.

Chinese convicts also have been dispatched to the Maldives, where the Chinese government is building 4,000 houses on several different islands as a government-to-government “gift” to win influence. So far, however, China has failed to persuade the country’s president to lease it one of the 700 uninhabited Maldivian islands for use as a small base for the Chinese navy.


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Re: PRC Economy and Industry: News and Discussions

Postby derkonig » 02 Aug 2010 09:28


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Re: PRC Economy and Industry: News and Discussions

Postby James B » 02 Aug 2010 12:34

Report Warns of Risks to China’s Bank System

A week after the Agricultural Bank of China raised nearly $20 billion from global investors in one of the biggest stock offerings in history, analysts are warning about growing risks to China’s banking system.

A report released on Wednesday by Fitch, the credit ratings agency, said Chinese banks were increasingly engaging in complex deals that hid the size and nature of their lending, obscuring hundreds of billions of dollars in loans and possibly even masking a coming wave of bad real estate and infrastructure loans, The New York Times’s David Barboza reported.

The report also said that Chinese regulators understated loan growth in the first half of the year, by 28 percent, or about $190 billion, and that many banks continued to secretly shift loans off the books, creating a “pervasive understatement of credit growth and credit exposure.”

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Re: PRC Economy and Industry: News and Discussions

Postby derkonig » 02 Aug 2010 15:20

More about China's economic progress, this time the three gorges reservoir turns into a garbage dump...
http://economictimes.indiatimes.com/articleshowpics/6247341.cms

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Re: PRC Economy and Industry: News and Discussions

Postby Prem » 03 Aug 2010 01:28

Three Gorges dam 'could be blocked by rubbish'
Layers of rubbish floating on the Yangtze river are "thick enough to walk on" and are threatening to jam China's massive Three Gorges hydroelectric dam, state media reported on Monday

Nearly three tonnes of refuse are collected from the world's largest dam every day, but operators are struggling with inadequate manpower and equipment as rubbish accumulates more quickly due to rain-triggered floods. "The large amount of waste in the dam area could jam the mitre gate [a type of lock gate] of the Three Gorges Dam," Chen Lei, an official with the China Three Gorges Corporation, told the China Daily, the government's English-language newspaper.
ore than 150 million people live upstream from the dam. In several nearby cities, household rubbish is dumped directly into the river - China's longest - because municipalities are ill equipped for waste disposal.
Mr Chen said 5.7 million cubic feet of rubbish were collected from the dam last year


http://www.telegraph.co.uk/news/worldne ... bbish.html

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Re: PRC Economy and Industry: News and Discussions

Postby Prem » 03 Aug 2010 01:32

Look like enviorenmental impact is just becoming obvious to them.These huge dams might be damning then slowly. India can also learn from their mistakes.

China halts £20bn dam project
http://www.telegraph.co.uk/news/worldne ... oject.html
The Chinese ministry of Environmental Protection said it would not approve any further dams on the Jinsha river in the southern province of Yunnan.The ministry reacted furiously after discovering that China's two largest power companies, Huadian and Huaneng, had started work on two hydroelectric dams in January without permission.
The two companies, which generate around a fifth of China's electricity between them, were planning to spend 200 billion yuan (£20bn) on eight dams along the Jinsha, which turns into the Yangtze river as it flows into Sichuan.The project is a similar size to the Three Gorges Dam project. A statement on the ministry's website said both companies had breached the law and that it would not issue any permits to either of them for any new project.A spokesman for the ministry said the construction of the two dams without proper designs and environmental protection measures would damage the ecology of the river and hurt the local communities.

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Re: PRC Economy and Industry: News and Discussions

Postby derkonig » 04 Aug 2010 11:08

http://www.marketwatch.com/story/chinas-overhang-of-empty-apartments-2010-08-03
64.5million vacant houses in the PRC on one hand & on the other migrant chinese continue to live like sardines in their dormitories i.e. if they are not dropping dead in the factories or committing suicide. Truly PRC is a Dubai a million times larger.


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Re: PRC Economy and Industry: News and Discussions

Postby Sanjay M » 08 Aug 2010 03:15

When I think of the 1929 Crash and the Great Depression, and how they were in part correlated with huge over-investment in railroad capacity, then China's latest spending spree on railroad-building isn't so comforting:

http://www.time.com/time/magazine/artic ... 91,00.html

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Re: PRC Economy and Industry: News and Discussions

Postby vina » 09 Aug 2010 16:17

There you go.
15 month to 4 year old babies develop breasts in China


What a continuing tragedy. Contrary to all the stories about "greedy capitalists" and "impeliarist lunning dogs" , it is actually the "communist and sociarist lunning dogs" that are actually putting people's lives at risk for purely profit motive.

China Milk Powder blamed for baby breasts
The boast about China becoming one of the worlds largest milk producers now falls flat. Milk is simply not a part of China's culture and most Chinese are lactose intolerant.

Just like most chinese products these seem to be be substandard adultrated scam that is having tragic consequences on people's lives.

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Re: PRC Economy and Industry: News and Discussions

Postby Sanjay M » 10 Aug 2010 10:50

A Chinese Rival to S&P, Fitch, and Moody's?
Dagong Global Credit Rating wants to go global and take on its rivals' bias toward debtor countries in the West

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Re: PRC Economy and Industry: News and Discussions

Postby derkonig » 10 Aug 2010 11:57

The co. that sold the hormone tainted Synutra is NYSE listed, this is not a case of some fly by night operator looking to make a quick buck. Seriously, the PRC society is god forsaken & destined to hell.

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Re: PRC Economy and Industry: News and Discussions

Postby DavidD » 11 Aug 2010 11:41

vina wrote:There you go.
15 month to 4 year old babies develop breasts in China


What a continuing tragedy. Contrary to all the stories about "greedy capitalists" and "impeliarist lunning dogs" , it is actually the "communist and sociarist lunning dogs" that are actually putting people's lives at risk for purely profit motive.

[url-http://news.yahoo.com/s/afp/20100809/wl_asia_afp/chinafoodsafetymilkchild]China Milk Powder blamed for baby breasts[/url] . The boast about China becoming one of the worlds largest milk producers now falls flat. Milk is simply not a part of China's culture and most Chinese are lactose intolerant.

Just like most chinese products these seem to be be substandard adultrated scam that is having tragic consequences on people's lives.


Actually, it's still the greedy capitalists and imperialistic dogs who are doing this, they just call themselves socialists now :oops:

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Re: PRC Economy and Industry: News and Discussions

Postby Christopher Sidor » 11 Aug 2010 18:25

Chinese economic growth is slowing down. That is the news.

There are two view points regarding this slowdown
Firstly is the view point from the west
Wall street journal.
Bloomberg.
This basically means that there is an overcapacity or the property bubble has grown too big and so on. Also today in BBC World Business report today, the presenters were discussing about the cooling economy of china and how that will have an impact on Europe and Britain. Basically they were saying that it will now be difficult for Europeans, including Britishers, to export their way out of their financial troubles.

Second view point is from china itself, which is shouting from the top of its lungs that this is a planned or deliberate slow down of the economy.
China's People Daily.
Chinese premier claiming that the slow down is due to chinese policies.

What this second view point implies is that everything is fine, no need to panic and so on. Things are under control and the chinese are doing this for their own good. The reasons being hinted are to change an orientation of the economy from an export led growth to a consumption led growth or to have a more equitable growth.


What I would dearly like to know which of these two view point is the truth. If it is recalled correctly, the western discourse has hinged itself on the premise that Chinese have to grow at more than 8-9% or their social base will fracture. A variant of this theme was, the belief that the Chinese people had made a pact with the Chinese communist party, the CCP delivers growth while Chinese citizens do not raise a voice against the one party rule. Now we might see a distinct possibility of growth slowing to 8%. 8% growth may be good, but for a country long accustomed to double digit growth, will the hang hover last ? And can we see a more higher growth in later years, i.e. post 2011/12.

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Re: PRC Economy and Industry: News and Discussions

Postby RamaY » 11 Aug 2010 18:29

Sanjay M wrote:A Chinese Rival to S&P, Fitch, and Moody's?
Dagong Global Credit Rating wants to go global and take on its rivals' bias toward debtor countries in the West


Recently I have gone thru a four day Credit Risk Modeling class and I too can develop credit risk score cards/ratings. In fact all major financial firms and hedge funds etc have their own credit risk models and score cards.

As long as the major financial firms do not take dingdong-ratings as the basis for their risk evaluation and interest rate setting; it would be nothing but a red painted dingdong.

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Re: PRC Economy and Industry: News and Discussions

Postby Najunamar » 11 Aug 2010 20:19

RamaY,
The real power stems from getting the ratings used by the big underwriters of sovereign debt issuances - this was done only with the active abetting by the GOTUS for the current dingdongs. The way they did it was to get large pools of Opium (Other Peoples' Money - funny how some themes are recurring in every century) in the hands of these pension funds/other funds through the 401(k) tax construct and funnel it to ensure the preeminence of the chosen few. Perhaps the Gurus of this dhaga can tease out the actual mechanics and prepare a blueprint for new entrants like PRC or Yindia.

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Re: PRC Economy and Industry: News and Discussions

Postby Raghavendra » 11 Aug 2010 20:46

vina wrote:There you go.
15 month to 4 year old babies develop breasts in China


What a continuing tragedy. Contrary to all the stories about "greedy capitalists" and "impeliarist lunning dogs" , it is actually the "communist and sociarist lunning dogs" that are actually putting people's lives at risk for purely profit motive.

China Milk Powder blamed for baby breasts . The boast about China becoming one of the worlds largest milk producers now falls flat. Milk is simply not a part of China's culture and most Chinese are lactose intolerant.

Just like most chinese products these seem to be be substandard adultrated scam that is having tragic consequences on people's lives.

Milk powder imported from NZ: China dairy http://timesofindia.indiatimes.com/worl ... 293811.cms

Kiwis did it :mrgreen:

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Re: PRC Economy and Industry: News and Discussions

Postby wrdos » 13 Aug 2010 07:00

A train on the recently opened Nanjing~Shanghai high speed railway is overtaking another high speed train on the old existing railway.

The video was personally taken by myself in last week.

http://www.youtube.com/watch?v=MiJCULW6fnM

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Re: PRC Economy and Industry: News and Discussions

Postby vina » 13 Aug 2010 08:33

wrdos wrote:A train on the recently opened Nanjing~Shanghai high speed railway is overtaking another high speed train on the old existing railway.

The video was personally taken by myself in last week.

http://www.youtube.com/watch?v=MiJCULW6fnM


Nice! Is that a 3rd rail we see in the bottom right of the video (it looks like that to me). If it is, it is sort of baffling. The Chinese high speed trains seem to operate on a 3rd rail instead of a catenary, while the older train (which got passed) seems to be a 2 rail system with an overhead catenary.

Does that mean that the new High speed trains cannot operate in the older lines (even though the gauges are the same)?

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Re: PRC Economy and Industry: News and Discussions

Postby wrdos » 13 Aug 2010 08:43

No, except some subways all China National Railways operate catenary. They are a single railway system, in fact quite a few of long distance trains run both railways, the newly opened high speed lines and the traditional lines.

For example, in fact from next month, the Shanghai~Beijing trains will run the Shanghai~Nanjing section on just the railway where I was riding and taking the video. And of course, the other sections will be the existing railways as always.

And what you saw is not the 3rd rail but sound barrier to protect the villages from the noise.

vina wrote:
wrdos wrote:A train on the recently opened Nanjing~Shanghai high speed railway is overtaking another high speed train on the old existing railway.

The video was personally taken by myself in last week.

http://www.youtube.com/watch?v=MiJCULW6fnM


Nice! Is that a 3rd rail we see in the bottom right of the video (it looks like that to me). If it is, it is sort of baffling. The Chinese high speed trains seem to operate on a 3rd rail instead of a catenary, while the older train (which got passed) seems to be a 2 rail system with an overhead catenary.

Does that mean that the new High speed trains cannot operate in the older lines (even though the gauges are the same)?

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Re: PRC Economy and Industry: News and Discussions

Postby wrdos » 13 Aug 2010 11:58

Highspeed train passing through Changzhou station at Jiangsu Province, China

The video was personally taken by myself in last week.

http://www.youtube.com/watch?v=UTAMeF3tSTM

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Re: PRC Economy and Industry: News and Discussions

Postby wrdos » 13 Aug 2010 15:44

Highspeed train leaving Shanghai, China

The video was personally taken by myself in last week.

http://www.youtube.com/watch?v=eTFG4eCNZbE

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Re: PRC Economy and Industry: News and Discussions

Postby Raghavendra » 14 Aug 2010 20:27

‘Arrogant’ China oversteps, shoots itself in the foot http://www.dnaindia.com/opinion/column_ ... ot_1422726

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Re: PRC Economy and Industry: News and Discussions

Postby Prem » 16 Aug 2010 20:17

http://www.latimes.com/business/la-fiw- ... 1341.story
China overtakes Japan as No. 2 economy
China has topped Japan in quarterly GDP figures before, but this time it's unlikely to relinquish the lead.
TOKYO — Japan lost its place as the world's No. 2 economy to China in the second quarter as receding global growth sapped momentum and stunted a shaky recovery.
Gross domestic product grew at an annualized rate of just 0.4 percent, the government said Monday, far below the annualized 4.4 percent expansion in the first quarter and adding to evidence the global recovery is facing strong headwinds.The figures underscore China's emergence as an economic power that is changing everything from the global balance of military and financial power to how cars are designed. It is already the biggest exporter, auto buyer and steel producer, and its global influence is expanding.

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Re: PRC Economy and Industry: News and Discussions

Postby Sanjay M » 18 Aug 2010 20:53

Chicago on the Yangtze
Welcome to Chongqing, the biggest city you've never heard of.

--
Another contrast with India - if any place in the country is growing, you can be sure that the boastful Indians will be shouting it from rooftops (and wanting to rename the place back to some obscure name from centuries ago)
This is the difference between an Asian country and a quasi-African one.
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Re: PRC Economy and Industry: News and Discussions

Postby Ameet » 18 Aug 2010 21:16

Foxconn to Hire 400,000 China Workers Within a Year

http://www.bloomberg.com/news/2010-08-1 ... cides.html

The Taiwanese company aims to boost its China workforce to 1.2 million to 1.3 million people after revenue jumped 50 percent in the first half.

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Re: PRC Economy and Industry: News and Discussions

Postby Sanjay M » 19 Aug 2010 03:16

I am not proud of our Indian performance. We should be doing much better than we are.

We are too far behind China, and meanwhile we are already savouring victories that have not yet happened.

I notice that the Chinese, like the Japanese and Koreans before them, seem to be achieving first and bragging later.

Why are we behaving so differently - and more importantly, why are we justifying it?

Our reactions and attitudes seem to more closely resemble those of African countries, which then puts a question mark over us. Our behaviour then encourages others see us in that mould.


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Re: PRC Economy and Industry: News and Discussions

Postby wig » 19 Aug 2010 19:53

the telegraph, published in the UK, has an article pointing out a bleak future as MNC's see profits take a hit and they paln shifts in manufacturing bases.
http://www.telegraph.co.uk/finance/chin ... wages.html
Credit Suisse's survey of executives found that 55pc of foreign firms in China could relocate plant to Bangladesh, Vietnam, Indonesia or other low-cost regions relatively easily, though it would be costly. There are winners too, such as Yum Brands poised to reap the harvest from rising Chinese consumption.

The changing landscape has major implications for Chinese exporters, with an average profit margin of just 3pc. High-tech companies in wind power, solar, and transmission equipment that have recently broken into world markets will face stiffer headwinds. The Shanghai Composite Index of Chinese equities has been lagging all year on fears of a profit squeeze. The bourse is down 20pc since last November.

Diana Choyleva from Lombard Street Research said China has a delicate task ahead. Rampant overheating has given way to a "sharp cyclical downswing", yet China cannot easily unleash another stimulus blitz without risking inflation. They are in the "nasty quadrant " of the economic cycle where all choices are hard, though China is not as far gone as over-cooked India.

Beijing may have manoeuvred itself into a policy swamp by relying on tiger-style export growth for so long with a suppressed currency instead of boosting domestic demand. Consumption has fallen from 47pc of GDP in 1998 to 35pc, the flip-side of over-investment in excess capacity. It will be tricky for China to extricate itself smoothly from such extreme imbalances.

Meanwhile, China Daily reports that 70pc of all flats in Hainan, 66pc in Beijing, and 51pc in Shanghai are empty, based on a survey of electricity use. They are presumably owned by investors and speculators.

Given that the "cohort" of young people aged 20 to 30 currently joining the workforce is now contracting as China's demographic crunch starts to bite, this property glut looks all too like the bubble peaks in Taiwan, Hong Kong, and

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Re: PRC Economy and Industry: News and Discussions

Postby RamaT » 20 Aug 2010 18:58

One can only hope.. if it is forced to slow down a bit it will hopefully re-assess it's belligerent attitude and realize it has more to gain with having a partner in India instead of an enemy.

http://www.foreignpolicy.com/articles/2 ... ese_future

Is China Turning Japanese?
China is now the world's second largest economy. Here's why Beijing, not Washington, should be worried.

China has formally overtaken Japan as the world's second largest economy. Yet, for all the recent excited commentary, there's less cause for baijiu toasts in Beijing than they might think. That's because China's economic growth has followed what's sometimes called "the Japanese model." In Japan and other Asian countries, this model has proved extraordinarily successful in the short term in generating eye-popping rates of growth -- but it always eventually runs into the same fatal constraints: massive overinvestment and misallocated capital. And then a period of painful economic adjustment. In short: Beijing, beware.
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Re: PRC Economy and Industry: News and Discussions

Postby abhischekcc » 20 Aug 2010 20:11

Haven't we all heard the dire predictions awaiting China? Well they were all raised in this forum, and by me specifically. But the recent pronouncements have a load of western envy. China has one thing that Japan never had - population. If they do manage to turn the economy inward (and it is a big if - since it requires a change of political stance of the CCP government), they will be the first true economic challenge in the world since the Dutch pirates 'broke into' the SEA trading.

wig
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Re: PRC Economy and Industry: News and Discussions

Postby wig » 21 Aug 2010 09:27

sir, if they manage to turn the economy inwards, it follows that the chinese will get into self actualisation mode. i do not think that the CCP would desire the chinese people moving on that path. right now the maximum wealth is concentrated in the hands of persons who are lineal descendants of communist party leaders.

chola
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Re: PRC Economy and Industry: News and Discussions

Postby chola » 21 Aug 2010 14:26

wig wrote:sir, if they manage to turn the economy inwards, it follows that the chinese will get into self actualisation mode. i do not think that the CCP would desire the chinese people moving on that path. right now the maximum wealth is concentrated in the hands of persons who are lineal descendants of communist party leaders.


The scions of the party might be the wealthiest members but their middle class is by no means small. The latest ADB report puts the Chinese middle class at over 810 million with annual spending power of $1.8 trillion. By comparison, our numbers are 205 million with yearly expenditures of $256 billion.

As long as the communist party is getting wealthy on the current path they will not veer from it. But it would be a mistake to believe that it is not making the rest of Chinese wealthier as well.

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Re: PRC Economy and Industry: News and Discussions

Postby wrdos » 21 Aug 2010 19:09

It depends on the definition of "middle class".
Most of my Chinese friends and I believe such an international definition,

For a 3 or 4 members family,
- At least one parent has a university education, and of course a full time job
- Living in a modern apartment, >80m2 with bathroom, kitchen, and fully equipped
- Having their own family car, or with a serious plan to buy one within 1 or 2 years
- Otherwise, has convenient access to modern mass transit system
- At least one of the members has air or high speed train travel experience

I personally believe there are at least 300 million Chinese belong to such a class and growing rapidly. I think most of them are civilian workers, armed forces officials, public school teachers, state owned company employees, foreign company employees, large scale private company employees......

They and their wives/husbands, and children.

And a big joke with many western authors, they keep claiming China is a nation "totally dependent" on export. Chinese export has been successful but it is laughable to believe a 1.3 billion country can grow that fast that long by export only, especially when the Chinese families are now buying cars equal to the American, Japanese and German combined.

The real problem is the Chinese statistic, it is totally a tragedy.

But different from the common idea on this forum, in fact the Chinese official statistic seriously underestimate the country's GDP, especially for the consumption and service sector.

I hope i can share more on this issue when i am freer with my time..

chola wrote:
wig wrote:sir, if they manage to turn the economy inwards, it follows that the chinese will get into self actualisation mode. i do not think that the CCP would desire the chinese people moving on that path. right now the maximum wealth is concentrated in the hands of persons who are lineal descendants of communist party leaders.


The scions of the party might be the wealthiest members but their middle class is by no means small. The latest ADB report puts the Chinese middle class at over 810 million with annual spending power of $1.8 trillion. By comparison, our numbers are 205 million with yearly expenditures of $256 billion.

As long as the communist party is getting wealthy on the current path they will not veer from it. But it would be a mistake to believe that it is not making the rest of Chinese wealthier as well.


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