..Infrastructure development was supposed to spread the wealth created in factory cities to rural inland areas to raise the living standards of those poor villages. Now, rising levels of bad debt will make it much harder for Beijing to continue to invest in those efforts to realize Deng's vision of spreading the wealth to all of China.
Beijing's massive spending spree poses another threat to China’s long term economic stability. Pumping more money into infrastructure projects may help prop up growth. But that cash infusion raises the risk of a sustained bout of higher inflation.
read the entire article
http://www.msnbc.msn.com/id/43600432/ns … e_economy/
looks like China is going through some growing pains like the rest of the world... the good news is, American companies are coming back and starting manufacturing plants again..
Shovel Ready Jobs and Bridge repairs, do not last long term. Comon sense will show that a two year construction job will "NOT" pay a 30 year mortgage, raise two kids, and give them a great start! And make a retirment.
all of which should have neen obvious when they Introduced them.
Opening Free Markets, real tarrif agreements with other countries, Goverments hands off Business, and using the True definition of Small Business; (Factories with 1000 emloyees or more) to make the start-ups
new technology helps also. We are not China, sorry.
Another western economist with his head up his @ss who has no idea what is going on here Among other things, I edit translations of bank reports and company reports to shareholders etc., and the total debt talked about in this "opinion only report" is like a tick on a very big dog.
Luckily the US is getting a 50 square mile Chinese industrial estate shortly, that should help you guys get to grips with simple economics.
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by fishskinfreak2008 8 years ago
Web-site/URL: http://www.cbsnews.com/8301-503983_162- … ?tag=stackConsidering the fact that CHINA thinks that they are the giants of the world and can do whatever they want when they want and without consequences, this wouldn't be a shock
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