Global Economy and China

[Rob_Hugo@PortNW]

In Sunday’s LA Times there was an article titled “Emerging Nations Powering Global Economic Boom” that talked about how emerging countries (developing countries) were leading the charge in the expansion of the global economy.

The article mentioned the fact that overall not one of the 60 nations that is followed for this indicator was experiencing a recession, something that had not happened since 1969.
Therefore, while all nations are enjoying economic growth nations like China, India, Russia, and Brazil are what the article terms as “setting the pace”.

One of the interesting points made by the article is that this growth by emerging nations is a result of the expansion of free trade practices, which in turn has created wealth for a new middle class in those countries.

What the article also points out is that the growth seen in countries like China has also had a trickle effect with neighboring countries in the region.

While the article paints a pretty good picture for global economy as a whole, and especially for countries like China, it also warns that things like a backlash against globalization and raising interest rates from inflation fears may slow down this rapid growth.

[Anonymous]

In a March 27th article from New York Times, a journalist reports on a deal being signed by Intel and Chinese officials. Intel, one of the leading chip-microprocessing company has decided to open up a manufacturing site in Dalian, China. According to the article, there is about seven other plants that produces this technology and most of it is found in the United States. The site will produce chips that will serve to support microprocessors; not the meat and potatoes of Intel's product, nonetheless, it marks a great achievement for China.

The journalist goes on to mention that China is no longer all about cheap labor, that it really is growing. The Chinese government sees the deal with Intel as a first step that will lure other big companies to bring over their business and to invest in China, simply not just for labor, but to actually serve prospective customers in the near future.

[Anonymous]

Okay, so China is growing--gobally. Here's something interesting I read yesterday, quite a few Chinese working abroad are being kidnapped and killed. What the heck?!? I always hear stories about the greedy Americans and Western Europeans being targets of small attacks by a minority group--but the Chinese? Er?

Globalization can be a good thing--make money, nation grows, etc. But can it be a bad thing? Definitely, pollution, change in social and economic structures, gap widening between the poor and the rich, etc. Also, attacks by foreigners.

The article tells about Chinese working abroad (trying to attain oil, resources, yaddah yaddah for China). It seems as if China is following the steps of Americans, except at a much faster rate. I'm eager to see what will happen next. Hopefully, China will be the country to attain world peace. Good luck, China!

[Anonymous]

What's the deal with President Bush blaming the Chinese for carbon emission?! They're not the only ones...(U.S.!) :~

[Anonymous]

I just wanted to write about a recent even which showed me just how influential China is in our lives, even indirectly speaking. I live in San Pedro where many of the residents work in the Port as longshoremen. In the Port you have millions of dollars going in and out of it each day. Ships from all over the world come into the port to drop of different items to be sold. Well the interesting thing that caught my attention, namely because I am taking this China seminar, is how there was no work for many of the dockworkers during Chinese New Year on the docks. With the exception of just a few American holidays, longshoremen work every day of the year. However during Chinese New Year, and extremely large portion of the dockworkers were unable to work because of the lack of work needed. Because it was Chinese New Year, the goods from China were not being delivered, that dramatically cut down on the amount of work. Several of my own family members and friends did not work for a week because of this. I found it to be very interesting.

[Anonymous]

Speaking of global economy, the Asian telecom market has a large scale and great investment potential. The good foundation of customers will be an impetus to the recovery of the telecommunication industry. Four markets are developing fastest in Asia. They are China, Indonesia, India and Vietnam. There is so much competition in the Asian markets that its become more customer friendly to pick and choose which cell phone or internet providers they pick from. In the past decade, Chinese telecommunication industry maintains a rapid growth rate as high as more than 20% annually. With the emergence of Voip, (Voice over internet protocol) in the past decade, many foreign company’s, mainly from the United States are trying to get there feet into the door in what is today a multi billion dollar industry that is redefining the way communications is being delivered.

[Anonymous]

Growth for the sake of growth is a completely irrational, absurd, and destructive force in the minds of people. The growth of which you speak focuses on material growth, on the production of goods to the nth power wihtout any reasonable controls in place. I believe, and therefore state, that humanity's present mind-set on economic growth focused on production as the ultimate goal of a society will lead to destructive forces which de-humanize the individual, brutalize societies and ultimately destroy our fragile planet. I am intensely disappointed and immensely frustrated by the fact that economically emerging and culturally advanced societies are emulated and continue to emulate Western's capitalistic approach to human/societal evolution which is 99% focused on material well-being... this is particularly true of the United States' culture (as transformed by the cowboy mentality depited through the Uglky American arogant, rude, insolent and uncouth). I had been hopeful that the ulture of India and China in particula, would bring to the international fore a new wave of inspirational approach to human-societal evolution in economie which would emulate the American crude capitalistic approach... and would take some sampling from the European Socialist-Capitalistic approach to new frontiers of social evolution. Alas, it has not happened ... alas... it may not happen... as both India and China appear to have forgotten their cultural prowess and inventive intellect... and opted to adopt the crude capitalistic system taken to the extreme by American cow-boy capitalism...

[Anonymous]

I am disappointed and disheartened by the apparent (?) fact that most of you are not seeing the issues stemming from this topic as very, very important one for the entire earth! How China, a country with 1.4 Billion (? +/-) people and producing already enormeous quantity of consumer products dumped all over the earth's markets, is developing its eco-political approaches to a 21st Century global economy is crucial because it will affect our little earth immensely... and at the pace it is developing it will have much more devastating effects on the global environment thanthe effects of the US and EU economies combined!!!!!!!

[Anonymous]

There is no doubt that this growth will slow. They will not experience a classic "recession" where gdp declines, but a decrease in the rate of growth could be almost as bad if expectations are inflated.

[Author]

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