China IS economically a World Power

China IS economically a World Power
Apr 5, 2007 16:18
APAULT Points: Join Date: Mar 11, 2006 Status: offline	I am attaching two extracts from an Australian stockbroker's report which support my view that China is ia already a world economic power. The rapid development of such a large nation must affect the whole world, and Australia is an economic province of China! 1. Appropriately named the China Syndrome, the recent meltdown in world equity prices was apparently precipitated by a nearly 9% retreat in the Shanghai Composite Index. Thus we have the media now alluding to the emergence of a new world order…at least in global equity markets anyway. Now it’s a case of China sneezes and we all catch cold rather than the US 2. Based on its minerals exports, Australia’s export income continues to rise, the price we [Aus] pay for many imports goes down (thanks to China's production system) and our terms of trade improve. That means there's more income in the economy and it’s the single most important factor why the economy is doing well and why unemployment is low.

Apr 5, 2007 16:18

APAULT
Points:
Join Date: Mar 11, 2006
Status: offline

I am attaching two extracts from an Australian stockbroker's report which support my view that China is ia already a world economic power. The rapid development of such a large nation must affect the whole world, and Australia is an economic province of China!

1. Appropriately named the China Syndrome, the recent meltdown in world equity prices was apparently precipitated by a nearly 9% retreat in the Shanghai Composite Index. Thus we have the media now alluding to the emergence of a new world order…at least in global equity markets anyway. Now it’s a case of China sneezes and we all catch cold rather than the US

2. Based on its minerals exports, Australia’s export income continues to rise, the price we [Aus] pay for many imports goes down (thanks to China's production system) and our terms of trade improve. That means there's more income in the economy and it’s the single most important factor why the economy is doing well and why unemployment is low.

Apr 5, 2007 18:30

WINDENERGY
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Join Date: Jan 24, 2006
Status: Offline

Yes, I agree with you APAULT, China has become a world economic power. This is why i try harder and harder to get fluent in speaking Putonghua. But, the environmental expense of such rapid growth is going to outweigh the economic profits. This type of rapid development is NOT sustainable....but, for now, it is very interesting and sometimes amazing to be living in this country of emerging possibilities.

__Windenergy__

Apr 5, 2007 20:20	#2
MAY001 Points: Join Date: Sep 28, 2005 Status: Offline	Yes, environmental protection is a BIG problem. And so is the population. It seemed that China is rich now. But it's just a small amount of money per person.

Apr 5, 2007 20:36

CHRISWAUGHBJ
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Join Date: Feb 26, 2007
Status: Offline

I think somebody needs to pay more attention to his username. The Chinese government is now trying to rapidly increase investment in renewable sources of energy, such as wind energy, and is also trying to reform China's mode of development from the purely extractive model used now (extract resources, make product, dump waste) to a circular, sustainable model (waste becomes a resource). Sure there's a lot of inertia to overcome- bureaucratic, social, and economic, but I'm betting that China will continue to be an exciting place to live for quite some time yet and people like you and I won't find ourselves needing to learn the Next Big Language to rescue our careers sometime in our middle age.

Of course, I could be wrong...
And I'm always open to learning a new language regardless of its economic importance.... now when were my school's Russian classes? The boss said it'd be ok for me to sit in on them.....

Anyway, what worries me about the Chinese economy is the current emphasis on cheap, unskilled labour churning out cheap, low-end products for export. Another area the Chinese government is trying to change, of course, by stimulating domestic demand and encouraging high-end, high-tech and innovative industries, but once again there's a lot of inertia to be dealt with.

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