December 11th, 2008China Waves Good-Bye to Growth
Is the China game over? Has the world satiated it’s appetite for cheap plastic and lead tainted toys and toxic food? According to the latest report from the Associated Press, China is still expected to grow their economy by a staggering 7.5% in 2009, but Chinese exports recently declined for the first time in seven years.
November’s exports fell 2.2 percent from the year-earlier period, the first decline in seven years, the government reported. That was down sharply from October’s export growth of 19.1 percent and well below analysts’ forecasts of a 13 to 15 percent rise…
“China is facing its most serious economic downturn in two decades,” the rating agency said in a report. The stimulus package, while large, “will not be able to offset fully the negative effects from the contraction in global trade.”…
China’s economy is expected to grow by about 9 percent this year but forecasters expect that to weaken in 2009. The World Bank has cut its 2009 growth forecast from 9.2 percent to 7.5 percent, its lowest since 1990…
January 23rd, 2011 at 6:42 am
I just do not understand how job opportunities can be developed when countless USA based businesses are investing their money offshore. Take General Electric for instance. General Electric’s current initiatives to build jet engines for the Chinese will result in them giving over their blueprints for the engines they build. A different corporation, Yum Brands, is getting over half of its revenue from outside the United States. Unless trade policies are altered, the downward spiral in jobs is predictable.