Is the party over in China? Massive unemployment looms

[RobertB]

This could turn out to be really big trouble for Asian countries, the so-called global economy, and China itself.


Friday, February 15, 2008

Is the party over in China? Massive unemployment looms

China watchers are predicting a drop in the GNP growth rate this year and for the foreseeable future. Most are attributing the expected fall off this year — from last year’s official 11.4 percent, the fifth year in a row of double digit expansion — to the expected downturn in the U.S. and the world economy in general.

Even the 2007 growth rate wasn’t that high when compared with the peaks of the 1980s and 1990s, when GDP growth in some years surpassed 15 percent, coming out of the stagnation and even losses at the end of the Maoist era.

http://www.worldtribune.com/worldtribune/WTARC/2008/ea_china_02_15.asp

[seekingtruth1]

well te god news for china is that unlike here in teh US teh Chinese I hear are SAVERS so perhaps they will be able to wether teh storm

[Waiting...]

Maybe that will decrease their consumption of oil and bring gas prices down. Doubtful...but you never know. I am not hoping for their economic failure...just wondering what the effects would be on oil demand.

[Nova]

I expect the opposite. I expect China to grow because of increased domestic spending (by Chinese consumers.) When we take a hit, so will they. But I think their savings will give them the capital to rebound. But hey, I may be wrong here.

[HisAlways]

I expect the opposite. I expect China to grow because of increased domestic spending (by Chinese consumers.) When we take a hit, so will they. But I think their savings will give them the capital to rebound. But hey, I may be wrong here.

China persecutes Christians. I do not look for their prosperity to last, especially if our economy continues to suffer (if it IS suffering). We are China's biggest customer, but lately, their goods have proven to be dangerous.:twitch

[Nova]

China persecutes Christians. I do not look for their prosperity to last, especially if our economy continues to suffer (if it IS suffering).

Persecution of Christians in China is dropping. It is precisely because of the spiritual faithfulness of the Christians in China, that I expect their country to prosper.

[funmudder]

Persecution of Christians in China is dropping. It is precisely because of the spiritual faithfulness of the Christians in China, that I expect their country to prosper.

Funny, I hear the exact opposite from missionaries in China :scratch

[AlphaOmega7]

China persecutes Christians. I do not look for their prosperity to last, especially if our economy continues to suffer (if it IS suffering). We are China's biggest customer, but lately, their goods have proven to be dangerous.:twitch

Speaking of dangerous goods from China, what do you think about the largest beef recall in US history? The US has better standards obviously, but we're not exactly squeaky clean either are we?

[funmudder]

Speaking of dangerous goods from China, what do you think about the largest beef recall in US history? The US has better standards obviously, but we're not exactly squeaky clean either are we?


Well theres a difference between aiming for squeaky clean, and knowingly putting a date rape drug in a toy packaged for children, now isn't there?

[Nova]

Funmudder, I agree better is relative. Open doors rated China as number 12 (on their watch list) last year & calls China #10 for 2008. So you are right-the situation is somewhat worse. You can buy Bibles legally. Amity opened a new Bible printing facility for example. But it is still a mixed situation. There is persecution in rural areas among house churches.