How is the economy in China right now? ?

Question

Are alot of businesses shutting down right now? Thats the rumour..

Answer 1

Mixture feelings here... Well, who knows? Is USA really in recession? only recession? with 10.2 unemployment rate in Cleveland Ohio, and Detroit Michigan we might as well be in depression but many disagree. I think that's what's happening in China. It's certainly reaching the peak of its expansion period. I'm sure they'll find some ways to keep it up. People aren't stupid nowadays. Government will do something to keep it growing.

Answer 2

the price of everything have raised.many enterprises cann't afford the raw materials and the rent.they are runing into mainland where they can get more profits.

Answer 3

Life in the cities is ultra modern, life outside the cities, primitive and deprived.  Rural Chinese are virtual slaves to the government connected urban ones.  The 100 million or so Chinese, who enjoy a modern life, are concentrated chiefly in the cities.  Most Chinese who leave China to go to other countries, often come from the poorer countryside.  China's economic power, is rooted not in massive industry like in the U.S., it is not rooted in laser efficiency and obsessive work like in Japan, nor is it rooted in high academic acievement and high intellectual standards like in Germany.  China's modern economy is powerful, because its @#$%#$@% huge, however wealth distribution is a different issue.

Alarmists in the U.S. are wrong; China does not have 1.3 billion people poised to consume the way the U.S. does because, again, only 100 million Chinese enjoy the trappings of the modern world, virtually all of them in the cities.  City life in China, costs an arm, a leg, and both your nuts; its expensive, to keep the poorer country folk out.  Basically for much the same reasons places in New York are more expensive than others, and toll bridges are placed near undesirable (read; nonwhite) neighborhoods.  The divisions in China however, are economic, obviously not ethnic; with so many people there simply isn't enough to go around.  Even if there was, however, the 100 million or so who live in the cities are not prepared to share.

So absolutely I am a supporter of Sifu Yang Ming of New York for defecting; just to p**s off the 100 million Chinese of the cities, I'm happy for him that he got the h**l away from what China has become!  While I admire the culture I am well aware how much the society has deteriorated; modern China, is not the China of the Han or the Ming.  Hey, if training westerners in Kung Fu will p**s a lot of them off, I would say to him "hey, good job man!"

All I'm saying is, if city Chinese can not even respect their own people, much less their own cultural traditions, such as the Kung Fu Sifu Yang Ming knows, then they are better off without them.  I know this sounds insulting to the Chinese but, its just how I feel.

Hey, congrats on all those gold medals and proving the point of Kung Fu, but, I do feel genuine disgust towards city Chinese.  In fact if I am ever China to learn Tai Chi, I'm headed for the country side, not the cities.

peace.

Answer 4

Better than the US. We owe them $500 billion dollars.

Answer 5

You're right, China is in the most severe recession in 30 years. The recent bounce of stock market during Olympics was just "Dead Cat Bounce".

The 70's economy crisis was because of high oil price due to Middle east war, the recent crisis is from US's sub-prime mess

EDIT: To dmaud56, obviously you're not talking about China, China's urban population is 600 million, nearly half of entire China, not 100 million. Oh and, rural Chinese in my region is pretty advanced.

Answer 6

The economy in China is very good, however, it will  not maintain its growth unless they change some policies.

the current economy is based on opening the markets to foreign investors and using cheap labor.

This type of economy can only be successful as long as the labor market remains cheap.

In the future the Chinese must change their direction because foreign companies will not be moving to China at the same rate.  

Answer 7

The answer from the first person is wrong. China is heading to a economic turbulence. Inflation is getting high. Food and fuel prices are skyrocket. Despite of the olympic fever, China might be heading to some tough times.