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| Home Front Economy |
| China Goes Pop |
| 2008-12-12 |
| JUST how worrying are the figures, published on Wednesday December 10th, showing that China’s exports and imports plunged in November? Exports fell by 2.2% last month from a year ago; imports plummeted by an astonishing 17.9%. One analyst sums up the news as “a shock figure”. The gloom is spread all over the place. Exports dropped across all big traded goods and all parts of the world. Exports to America fell by 6.1%; those to the ASEAN countries, which had grown by 21.5% in October, fell by 2.4%. The faster decline in imports meant that China’s monthly trade surplus reached a record $40.1 billion. Exports last fell in 2001. An estimated 130m people have moved from the countryside to the cities, many for jobs in factories that make goods for export. Zhang Ping, the country’s top planner, has given warning of the risk of social instability arising from massive unemployment. |
| Posted by:Anonymoose |
| #9 Seems RUSSIA is also under threat or risk. * REDDIT > RUSSIA FACING POSSIBLE MASSIVE SOCIAL UNREST AND VIOLENCE AS COMPANIES PLAN MASSIVE LAYOFFS; + SIGNS OF A KREMLIN FEARFUL OF UNREST, + THE REAL ISSUE ISN'T A US MISSLE SHIELD IN EUROPE [Bi/Multi-lateral Cooper as per Cold War Mutual Destruction premises]??? |
| Posted by: JosephMendiola 2008-12-12 20:23 |
| #8 The Yuan doesn't float, it's pinned to the dollar. It's not going anywhere in relation to the dollar. |
| Posted by: Mike N. 2008-12-12 16:14 |
| #7 The British had the same problem. Their solution was a lot more innovative than ours (economic collapse). |
| Posted by: ed 2008-12-12 14:28 |
| #6 The situation between China and the US is a very interesting one. I don't think it is any more a threat to the US than Japan is. There is a symbiotic relationship between both countries and China appears to be more aware of this relationship than the US is. China is a hybrid capitalist/socialist country that wants to eventually be fully capitalist. There is far more freedom there for private enterprise than there is in any western country, basically it's the Wild West. Americans would be shocked at the amount of freedom businesses have. And of course some of them abuse that freedom, so slowly more and more regulations are being reluctantly added. Basically it's an anarchists paradise as long as you don't tangle with the Emperor (Communist Party) They and Taiwan are becoming all lovey dovey and they are seeking more investment from there. I expect them to sign an agreement with Taiwan within the next year or two setting out a reintegration with China, probably on the lines of Hong Kong over a number of years. Trade with China has been a mixed blessing over the last ten years or so. They along with Japan have kept inflation low by manufacturing wanted goods at lower costs. However they are not called Jews of the East for nothing and they are compulsive savers and investors. That savings has been the driver of the property boom in the US, although through none of their fault. They just kept investing in financial assets and the US kept spending. The US now wants them to appreciate their yuan so as to allow the dollar to fall, thereby facilitating US exports and slowing imports. However as this article indicates, that is not likely to happen, in fact the opposite, the yuan will likely fall strengthening the US dollar. The next administration is going to have fun sorting that conundrum out. |
| Posted by: tipper 2008-12-12 12:57 |
| #5 Even my leftist moonbat parents have begun boycotting virtually all Chinese-made products. I think sickening and killing all those pets didn't help them at all. My cat still hasn't completely recovered from that melanine-laced crap I was tricked into feeding him. I had a low opinion of the Chicoms even before the poison pet-food. Now... the less said, the better! |
| Posted by: Scooter McGruder 2008-12-12 11:26 |
| #4 Yet another nation that was supposed to "eat our lunch" has got a bellyache instead. We have one too, but we got it from eating our own lunch... |
| Posted by: M. Murcek 2008-12-12 10:51 |
| #3 Not to mention the difficulty of shipping lead filled toys and melamine flavored food items thru a war zone. |
| Posted by: SteveS 2008-12-12 08:35 |
| #2 Zhang Ping, the country's top planner, has given warning of the risk of social instability arising from massive unemployment. Welcome to capitalism. Now take this as an opportunity and a moment to reflect. If you think exports suck now, just invade Taiwan. The One might forgive you and issue elegant words about the event, but the American people equipped with this device will boycott anything made in China and make today's numbers look mild by comparison. |
| Posted by: Procopius2k 2008-12-12 08:24 |
| #1 Want to play trade war games? May as well go for broke while you think you have the upper hand, China. |
| Posted by: newc 2008-12-12 01:37 |