C h i n a und seine Erfolgs-Story:

verfasst von Emerald, 25.06.2003, 07:26

-->According to an article in today's USA Today,"Economy in post-SARS China is 'taking off like a rocket'." Hong Kong -- China has weathered the financial fallout from the SARS virus so well that some economists now worry crucial sectors are at risk of overheating... Exports are up 34% this year. A stronger euro which makes Chinese products less expensive for European buyers, has helped boost exports to the European Union by 45%. Exports to the US are up 35% and on pace to top last year's $125 billion. This means China could overtake Mexico as the USA's second largest source of imports. Investment in fixed assets, factories, machinery and equipment, jumped 32% the first five months of 2003."

Russell Comment -- I've contended that China alone could manufacture enough goods and more to satisfy the whole world. And I wonder -- is that's what's going to happen? With all its manufacturing capabilities, China's biggest problem is unemployment.

Meanwhile, the rest of the world pressures China to revalue the renminbi upwards or let it float. The rest of the world is singing in the wind. China's leaders want to provide jobs so they can keep their own jobs -- China's leaders first priority is not making the rest of the world happy.

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• C h i n a und seine Erfolgs-Story: - Emerald, 25.06.2003, 07:26