Now I know even more about you. :)
Let me guess now.. you live in a ghetto in the Midwest.
I am going to have to go with the st. Louis region.
Hahaha. been talking to a 3rd rater from china....
And what happened?
Looks like you have run out of set-English phrases.
This is why you can't get a job in America. You need to learn to speak proper English. You can't "yo" and "lol" your way into a job.
So you are telling me... this moore guy is right about china, and all the chinese people who live in china are wrong?
The vast majority of the investors in the the Chinese stock market are chinese. It was the chinese people who bid the chinese stock market down.
The people rioting in the chinese streets are chinese people.
So Moore is right, and millions of chinese are wrong.
Oh that makes sense.
Your sir are a moron.
China has not been derailed
Posted By: Malcolm Moore at Jan 6, 2009 at 10:10:33 [General]
Posted in: Foreign Correspondents , Business , Financial Crisis
Tags:china, economy, exports, growth, social unrest
Like many others, my view on China's prospects for 2009 have flip-flopped a bit recently. I was panicked by the collapse in exports in November, until I read this research on how important exports really are to China (answer: 7pc-ish of GDP only, rather than the widely-trumpeted 40pc figure).
Of course, it's not just the fall in exports that is causing trouble - there's a domino effect at work. A large share of China's incredible economic growth consisted of building the factories, roads and ports that were required by export companies. That investment has now ground to a halt.
And the daily diet of media reports about China's export-led "calamity" has given Chinese consumers the jitters.
The Chinese have always saved money carefully (because, after all, there is no social security and medical bills can strike at anytime). But now that they think crisis is looming, their hands are stuck firmly in their pockets.
However, the idea that China is on the brink of economic collapse, and that its demise will lead to widespread riots, the fall of the Communist Party or serious global repercussions is overblown.
As my colleague Richard Spencer points out, the Chinese economy is only slightly larger than ours, and while we were all counting on China's continued growth to keep the global economy rolling, it also brought with it the double-edged sword of high oil and commodity prices.
China remains a state-run economy, with every sector dominated by state-owned companies (who are also responsible for the eye-catching skyscrapers of Shanghai and Beijing). The myth that China's economy is built on entrepreneurial private companies is just plain wrong.
The state has money to spend next year and consequently GDP growth is likely to be far higher than the doom-sayers predict. Indeed, Wen Jiabao has just admitted that the government's £400 billion rescue package has not been finalised - there may be even more money to come!
The predictions of social unrest are also wide of the mark. The people who prospered most during China's fat years were not the workers. They always got a raw deal, particularly the ones who left their home province to seek their fortune.
If they managed to get jobs, it was always on a precarious and usually unfair basis (as years of Telegraph reporting show). The ones who are rioting now are not rioting because they have lost their jobs, but because the factory owners have run off without paying them.
These migrants are actually the most likely to benefit from the government spending programme, since much of the money will go to the countryside.
The people who will suffer are middle class Chinese in the big cities. The value of their property has collapsed, their shares have tanked, and their kids won't be able to get jobs with multinational companies. But are they likely to take to the streets?
Now get back to work. I'll take a #1 with a medium coke - and make it snappy yo.
LOL yo. STFU moron.