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Sorry to burst your bubble, but all this is short lived. China's economy is mostly dependent on exports and not domestic consumption. Seeing the global slowdown, China's exports are falling apart.
European imports from China will be much, much lower going forward. Falling freight rates imply that European demand is falling at an alarming rate. China reported its biggest trade deficit last month since 1989, adding to last week’s releases on factory output and retail sales that signaled slowing growth.
But concerns have also grown that China, the so called 'world's workshop' is beginning to suffer from falling demand from not only Europe but America too. China's gigantic export sector is simultaneously the source of China's strength and also its great weakness. Even the most prosperous of shops cannot remain in business if its customers decide to stop buying.
The country's leadership is certainly preparing for a slowdown. At the annual meeting of the National People's Congress in Beijing last week, the Chinese premier, Wen Jiabao, lowered this year's growth target from 8 per cent to 7.5 per cent.
So the question is, will the Chinese economic landing be hard or soft? I think it's going to be pretty much hard - like falling off a cliff!
Cheers!
And they say India loves to boast.
LOL Now who is boasting loud.................
I was talking about India.... Not China.
China was unified by some communists.
China is a English name.
24.The historical origin and political significance of the country name "China" and other variations in other language.
There is more:
Electricity production, automobile production, mobile phone subscription, internet subscribers, etc etc
New Recruit
Sorry for going offtopic .......
I love S Koreans and even Vietnamese in this forum because all the post by a Chinese guy is full with anger either on INDIA or USA because of there obsession or whatever. You called us ( INDIANS ) poor. YES. i accept that we are poor, much poor than you when it comes to so called GDP but when it comes to freedom and allies nation, we are lot more richer than you my friend.
The fellow who posted the link of BBC news that we are even more poor than some countries in AFRICA then i will ask you a question that which country in Africa will not accept the financial help by any rich country like us?
The reason that you are so developing and increasing your GDP or whatever is due to the type of rules or characteristics your govt has chosen for the development.
Pakistani members who are happy for the Chinese development knows what cost they are paying for this so called DEVELOPMENT which in my sense is inhuman. Pakistani members cries loudly on the dark sides on INDIA of being poor , go visit China then say the dark sides.
Now come to the topic..
Your industries
Chinese Cars - China Motor Vehicle Documentation Centre - Lawsuits
Chinese can Copy Anything | Curious, Funny Photos / Pictures
These are your so called auto industry.
BBC News - China stealth fighter 'copied parts from downed US jet'
Same BBC dear.
China copies a German bus design
Comments?
Its the quality not the quantity. China has blackouts in places, not one chinese car company is in the top 10 car companies, mobile phone is due to the large population due to the induction fo 3g and 4g the call rates have gone very low these days same with the Internet. China still has a long way to catch up to USA. It is possible within 2050.
New Recruit
anti-chinese propaganda.
racist stuff.