Forum Post: Global Crisis Reaches China !!!
Posted 12 years ago on Dec. 8, 2011, 7:31 p.m. EST by Scout
(729)
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Unrest Spreads as Growth Stalls
" China's leaders are currently contending with declining demand, rising debt and a real estate bubble. Some factories are laying off workers, suffering financial losses or even closing as orders from crisis-plagued Europe dry up. The economic strains are frustrating workers and consumers in the country, threatening the political establishment and Beijing's economic miracle. "
http://www.spiegel.de/international/europe/0,1518,802308,00.html
Good post.
Wow! Do you know what this means? It means that the actions of a person in one part of the world DOES effect another person elsewhere!
We do not live in a bubble. We live in a great web of life. Pull on one strand and the rest shiver and are affected. No one is immune to this. If we of the western world do not change our course we will kill this world.
Agreed. We need a real conversation about a global resource based economy.
http://www.youtube.com/watch?v=XDhSgCsD_x8
Would we as Americans still have the little luxuries in life like central air, big hdtvs, nice cars, etc...with a system like this?
Yes. As long as the resources are available.
but what i dont quite understand is why China cannot quickly adapt to make cheaper goods than they can in Europe? Austerity will lead to frugality ? With their much lower wage costs I would have thought China should be able to compete very well on a wider range of goods ?
According to a poll held in better times - end of 2009 - 96% of the Chinese public "resent the rich". The same poll done today might well reveal... 99%!!!
http://www.nytimes.com/2009/12/30/business/30views.html