China’s economic prospects

The similarities between China today and Japan in the 1980s may look ominous. But China’s boom is unlikely to give way to prolonged slump.


CHINA rebounded more swiftly from the global downturn than any other big economy, thanks largely to its enormous monetary and fiscal stimulus. In the year to the fourth quarter of 2009, its real GDP is estimated to have grown by more than 10%. But many sceptics claim that its recovery is built on wobbly foundations. Indeed, they say, China now looks ominously like Japan in the late 1980s before its bubble burst and two lost decades of sluggish growth began. Worse, were China to falter now, while the recovery in rich countries is still fragile, it would be a severe blow not just at home but to the whole of the world economy.


[...] Scary stuff. However, a close inspection of pessimists’ three main concerns—overvalued asset prices, overinvestment and excessive bank lending—suggests that China’s economy is more robust than they think.


http://www.economist.com/world/asia/displaystory.cfm?story_id=15270708


It is worth reading the comments too.

Related Videos

 

Featured Videos

The lemon and coconut in Chinese cooking
With DianXi XiaoGe ... Bonus film - wild bamboo shoots - with Wild Girl ...
Collecting and cooking wild pine nuts in YunNan province
With DianXi XiaoGe ...
Universal Studios, BeiJing, opens
With Wei's Travel ...
New Geopolitics page launched
Bookmark this page when arrive. All geopolitics videos will, from now, appear on the new page (and no longer on the home page; but never say never). Automatically updated. BB will not preview or select these videos; but we have trust in the channels we have chosen to include. More channels will be added later to provide a range of opinions (though only rational voices; no MSM). The new Geopolitics home page. Click here and bookmark. So the Planning War On China series has ended. BUT, the voices continue to be here - in their very own page; and EVERY new video will appear there. This is a win-win : BB can concentrate even more on bringing you the very best China travel and Chinese culture films. More content coming soon ... Probable additional channels include : Daniel Dumbrill, NuMuves, Geopolitics In Conflict, The GrayZone, Democracy Now, Cyrus, and more ... Approaching 20 years, BB wishes to say a BIG thank you to all our visitors.
ShiChaHai, BeiJing 北京 nightlife
Scenes around the central lakes area ...
The ruins of the Western-style palaces at YuanMingYuan 圆明园, BeiJing
YuanMingYuan, also known as the 'Old Summer Palace', was constructed during the 18th and early 19th century and was a wonderland of lakes and waterways, bridges, hills and pavilions. One third of the ground of YuanMingYuan was taken up by over 200 small hills with steep sides, secluded valleys, rock walls and stone caves. Half of the garderns are covered by the waters of lakes, winding streams and ponds. It was at YuanMingYuan that the emperors of the Qing Dynasty resided and handled government affairs - until it was destroyed; the Forbidden City was mostly used only for formal ceremonies at this time. The southern part of YuanMingYuan was where emperors handled state affairs, while the other parts were primarily for personal use and comprised of more than 150 scenic spots, involving rare exotic flowers and trees from different parts of the country. There were originally towers, terraces, pavilions, halls, corridors, pagodas and bridges with a total construction area of 150,000 square meters - corresponding in scale to that of the Imperial Palace. Artisans were recruited from all over China to enact the exquisite settings. The various styles of architecture, standing encircled by hills and rivulets, presented a most picturesque view. Many were reproductions of scenic mountains, rivers and famous gardens in China (mostly southern China). During his many tours of the country, emperor QianLong made it a point to have pictures of famous gardens and scenes drawn so that he could have replicas built in Beijing. Most famous of these were the ten scenic spots of the West Lake in HangZhou. The Old Summer Palace is often associated with the European-style palaces (Xi Yang Lou) that were built of stone. The designers of those structures, the Jesuits Giuseppe Castiglione and Michel Benoist, were employed by emperor QianLong to satisfy his taste for exotic buildings and objects. However, more than 95% of the Imperial Gardens consisted of essentially Chinese-style buildings. There were also a few buildings in Tibetan and Mongolian styles, reflecting the diversity of the Qing empire. In addition, hundreds of invaluable Chinese art masterpieces and antiquities were stored in the halls, including some unique copies of literary works and collections. In 1860, during the 'Second Opium War', the British and French expeditionary forces looted the Old Summer Palace. Later, on October 18 1860, a British general - despite protestations from the French (who in fact had began the looting) - gave the order to set fire to the huge complex, which burned to the ground. In 1900, those buildings that had partly survived or been restored were burnt for good by the Western expeditionary forces sent to quell the 'Boxer Rebellion'. Many priceless artifacts were plundered and made their way to museums and private collections in Europe. The ruins were further plundered by the warlords of the early republican period and further destruction of the ruins took place during the 'Cutural Revolution'. After all this destruction, what was left was truely just an empty shell. Empress dowager CiXi later directed the forming of YiHeYuan (Garden of Nurtured Harmony), into a new Summer Palace; this was near to the Old Summer Palace, but on a (somewhat) smaller scale. Nearest subway station : YuanMingYuan on line 4.
The ‘threat’ of China is that it says ‘no’ to being a slave of the West
The US is blaming China for its own decline. Alan Freeman, the co-director of the Geopolitical Economy Research Group discusses why the US's decline is not China's fault. Bonus films, with Jeffrey Sachs ... Bonus film, with Cyrus Janssen ... Bonus film, with Yanis Varoufakis and Wongel Zelalem ... Africa owes about 12% of its total external debt to China. The rest is owed to you know who. People on the continent can see what the 12% has been used to develop but can hardly point to what has been done with the rest of the external debt. What is clear is bank accounts that have swindled that unaccounted for money are in the collective west. These are the very countries that go around talking about corruption in Africa. It is in China's interest that trading partners also grow, to conduct healthy trade relations. It is a WIN WIN partnership.
ZhangYe National GeoPark, GanSu province
With Walk East ...
Geopolitics and China; July 2022
With Brian Berletic and Angelo Giuliano ... STEM = science, technology, engineering, mathematics.

Tag search ?