Chinese Economics Thread

[antimatter]

Forget about export driven economy, It's fools gold. All those export driven economies will suffer one way or another.

Waht China should concentrate is to build those mega-projects to build up its agriculture and become self sufficient and also domestic consumption.

Right now, it's good time to expand and speed up the great South to North water diversion project. That project is humugous. That should create huge employment for those unemployed landless farmers, trasnsient workers and the likes.

If they could expand and bring huge amount of water to the north and create oasis of farmland from dry soil. then create alot of farmable land in the north and northwest.

[crobato]

Can you see BMW, Mercedes, Boeing , Rolls Royce doing this?... that is when the going gets tough, by lowering quality through fakery??

On BMWs and Mercedes, I can tell you from first hand experience they have done some very cheap things in their cars.

[bladerunner]

On BMWs and Mercedes, I can tell you from first hand experience they have done some very cheap things in their cars.

Taking the cheaper option, providing its safe is'nt criminal in intent but what SanLu and others did and perhaps still doing, is.

Theres no doubt that China isnt the only country that has knowing released dodgy products. The only incident i can think of is Mc Donald Douglas with its Dodgy cargo door on the DC10 series aircraft,, culminating with the Turkish crash in 1972?, with the death of hundreds.

[crobato]

The historical equivalent to the Chinese Melamine scandal is the American Swill Milk scandal in the 1860s. This was when milk was being derived from sick and unhealthy cows kept locked up in extremely unsanitary conditions and fed with scraps and liquor. Worst yet, despite the outrage, politicians blocked every means to stop the crisis until the Food and Drug Act of 1906 put an end to everything.

The most unsafe device ever released to the public was a machine that lets you see your foot inside your shoe---all in real time. Put your foot in it and watch through the lenses to see exactly how your feet fits inside your shoe. It was introduced to department stores across the USA right around the turn of the century and was in use until the Sixties. That's one product that never had a recall for over 50 years. People often marveled at it and thought this was a true wonder of science and technology.

Figure out how you can see your feet inside your shoe. Yup. X-rays. All in real time. This isn't just a short exposure like a modern medical X-ray. You might put your feet in it for over a minute looking inside your shoe at your toes, and the bones inside your toes. This machine is just like something you would put in a regular store in the shoe section, no radiation shielding no nothing.

We will never know how many people would eventually die of cancer and radiation poisoning thanks to this innocent looking machine.

For those of you old enough to remember, there are all those old classic clocks and watches that have luminescent dials on them.

Guess what, do you know what causes the paint to glow?

Its because radioactive elements, like radium, is part of it. The glow is caused by atomic radiation.

Now imagine wearing that watch on your wrist all your life. Or have a glowing radioactive alarm clock next to you when you sleep.

Pity all the poor girls they hired in those watch factories to manually paint those dials.

[bladerunner]

heres an interesting take on the downside of china. im having trouble cutting and pasting it.

http://www.garpdigitallibrary.org/download/GRR/2089.pdf

[crobato]

Slower China growth to make job creation harder in '09: minister
BEIJING, Nov 5 (AFP) Nov 05, 2008
China's labour minister warned the economic slowdown will make it difficult to create jobs, state media said Wednesday, in a signal that unemployment remains one of Beijing's top priorities.

"We expect the impact on the job market to emerge gradually in the first half of next year if we don't respond in a timely and effective manner," said Yin Weimin, minister of human resources, according to the People's Daily.

By the end of September, the number of registered jobless in Chinese cities was 8.3 million -- or four percent -- the same as last year, the report said.

The actual scale of the problem is likely to be much larger, as the statistics do not include rural unemployment or workers laid off from state-owned companies.

In order to create more jobs, Yin said the government would provide more support for labour-intensive industries and small and medium-sized enterprises.

Creating enough employment is one of the main reasons China aims to increase economic growth, which has been in double digits for five consecutive years.

Yin also said a system that orders employers to place a certain sum of money in bank accounts controlled by the government, as an insurance to ensure salaries are paid on time and in full, will be broadened.

Last month a local government in southern China's Dongguan city had to pay 24 million yuan (3.51 million dollars) to more than 7,000 employees after two toy-making factories went bankrupt partly due to slumping exports.

http://www.sinodaily.com/2006/081105....7kzyf41b.html

[bladerunner]

This is interesting

WAs this product made in China or is the adding of lead catching. I saw it listed in the FDA.
Lucky Country Inc. Recalls All Natural Black Licorice Products
Contact:
Donald C. McLearn
904 287-9383
FOR IMMEDIATE RELEASE -- September 5, 2008 -- Lucky Country Inc. of Lincolnton, NC is recalling all of its natural black licorice products from California, Colorado, Connecticut, Florida, Georgia, Hawaii, Iowa, Illinois, Indiana, Massachusetts, Minnesota, New Hampshire, Pennsylvania, Utah, Virginia, and Washington State due to elevated levels of lead.
Recent tests performed by the California Department of Public Health and the Food and Drug Administration showed that Lucky Country Aussie Style Soft Gourmet Licorice Black (All Natural) in 1.5 lb bags contained a lead level exceeding the level permitted in candy. Because of this finding, Lucky Country is voluntarily recalling all of its Lucky Country Aussie Style Soft Gourmet Licorice Black (All Natural) from the market. In addition to the 1.5 lb bags, Lucky Country also manufactures this natural black licorice product in 6 oz and 3 lb bags, and in a 1 lb tub. Consumers are advised to check to see if they have this product in their possession and should either dispose of it or return it to their retail outlet for a full refund.

[Spike]

The most unsafe device ever released to the public was a machine that lets you see your foot inside your shoe---all in real time. Put your foot in it and watch through the lenses to see exactly how your feet fits inside your shoe. It was introduced to department stores across the USA right around the turn of the century and was in use until the Sixties. That's one product that never had a recall for over 50 years. People often marveled at it and thought this was a true wonder of science and technology.

Figure out how you can see your feet inside your shoe. Yup. X-rays. All in real time. This isn't just a short exposure like a modern medical X-ray. You might put your feet in it for over a minute looking inside your shoe at your toes, and the bones inside your toes. This machine is just like something you would put in a regular store in the shoe section, no radiation shielding no nothing.

We will never know how many people would eventually die of cancer and radiation poisoning thanks to this innocent looking machine.

For those of you old enough to remember, there are all those old classic clocks and watches that have luminescent dials on them.

Guess what, do you know what causes the paint to glow?

Its because radioactive elements, like radium, is part of it. The glow is caused by atomic radiation.

Now imagine wearing that watch on your wrist all your life. Or have a glowing radioactive alarm clock next to you when you sleep.

Pity all the poor girls they hired in those watch factories to manually paint those dials.

That's pretty tragic. Do you have the name of the foot x-ray contraption? Are there articles about them on wikipedia?

[crobato]

It is called the Shoe Fitting Fluoroscope.

http://www.orau.org/ptp/collection/s...fluor/shoe.htm

Text for its radio commercial---

"Every parent will want to hear this important news! Now, at last, you can be certain that your children’s foot health is not being jeopardized by improperly fitting shoes. STORE NAME is now featuring the new ADRIAN Special Fluoroscopic Shoe Fitting machine that gives you visual proof in a second that your children’s shoes fit. The ADRIAN Special Shoe Fitting machine has been awarded the famous PARENT’S MAGAZINE Seal of Commendation . . .a symbol of safety and quality to millions of parents all over America . If your children need new shoes, don’t buy their shoes blindly. Come in today, let us show you the new, scientific method of shoe fitting that careful parents prefer. STORE NAME invites all of you to visit us today for an interesting demonstration. We know that once you buy shoes that are scientifically fitted, you will shop at STORE NAME all of the time. "

[zaky]

Even today one can by "radioactive" watches.

http://www.tritiumh3watches.com/SwissMilitaryWatch.html

http://www.lapolicegear.com/uzih3trwa.html

[crobato]

SHANGHAI (AFP) ¡ª China is considering a plan to invest five trillion yuan (730 billion dollars) in the transport sector in the next three to five years, state media reported Wednesday.

The investments would include roads, waterways and ports, drastically boosting previous plans for investment, the China Business News reported, citing an unnamed source.

The plan partly overlaps with a previously announced proposal to spend about two trillion yuan in the sector between 2006 and 2020, the report said.

"The additional funds would be able to boost domestic demand swiftly," the source was quoted as saying.

China is ramping up construction to stimulate the domestic economy and create jobs amid a slowdown in overall economic growth.

The global financial woes were instrumental in slowing growth in the world's fourth-largest nation to nine percent in the third quarter, the lowest in around five years.

Last month, the State Council, or cabinet, approved a plan to spend two trillion yuan on construction of new railways by 2020. About 1.2 trillion yuan had already been allocated, state media reported.


http://afp.google.com/article/ALeqM5...CunX2GnzIgkbZA

[Spike]

It is called the Shoe Fitting Fluoroscope.

http://www.orau.org/ptp/collection/s...fluor/shoe.htm

Text for its radio commercial---

"Every parent will want to hear this important news! Now, at last, you can be certain that your children’s foot health is not being jeopardized by improperly fitting shoes. STORE NAME is now featuring the new ADRIAN Special Fluoroscopic Shoe Fitting machine that gives you visual proof in a second that your children’s shoes fit. The ADRIAN Special Shoe Fitting machine has been awarded the famous PARENT’S MAGAZINE Seal of Commendation . . .a symbol of safety and quality to millions of parents all over America . If your children need new shoes, don’t buy their shoes blindly. Come in today, let us show you the new, scientific method of shoe fitting that careful parents prefer. STORE NAME invites all of you to visit us today for an interesting demonstration. We know that once you buy shoes that are scientifically fitted, you will shop at STORE NAME all of the time. "

This sounds like one of those crazy commercials from the game "Fallout."

[crobato]

http://www.yomiuri.co.jp/dy/world/20081107TDY07301.htm

Chinese town thrives on Russian wealth

Tetsuya Suetsugu Yomiuri Shimbun Staff Writer

HEIHE, China--The shopping street in Heihe, Heilongjiang Province, was crowded with Russians from Blagoveshchensk, about a kilometer away across the Amur River, and other far eastern Russian cities.

I entered a gyoza dumpling restaurant, where I found most of the 20 customers were Russians.

"We're very busy as Russians now can visit China without a visa," said Wang Zhijun, 26, the restaurant's manager. "We've even set up two branches."

A 44-year-old taxi driver said, "My income has increased by 50 percent recently."

In the 1990s, the Heihe government set up a special trade zone on Daheihe Island about a square kilometer in size, on the Amur River and allowed travel without visas to and from Russia. The local government expanded the trade zone to the whole of the city center, which is about 15 square kilometers, in 2004.

People travel to and from the trade zone by ship in summer and by bus or hovercraft in winter, when the river is frozen over. According to the Heihe government, about 300,000 Russians visited the city from January to August, an increase of about 22 percent from the same period last year.

Heihe's prosperity is mainly the result of the booming Russian economy, boosted mostly by natural resources exports.

"Russians' salaries were smaller than Chinese's 10 years ago, but it's now a few times that of the Chinese, thanks to recent economic growth," a Heihe government official said.

According to the official, the cost of food and drinks and the prices of electric appliances, clothes and other products in Heihe are "half or less than half" of those in Russia.

Considering such changes, the Chinese government has taken measures to boost existing trade in areas bordering Russia, setting up trade zones in Heihe, Suifenhe, Dongning and other cities in an attempt to attract Russian capital.

Russia's economic power also is boosting the development of the downstream areas of the Tumen River, which have been stagnant in recent years.

Japan, China, Russia and South Korea are engaged in a marine transport project connecting Niigata, Russia's Trojtsa and South Korea's Sokcho.

"In recent years, Russia's booming economy has helped develop roads to Trojtsa Port and facilities at the port," said an employee of a Japanese company engaged in the project. "Now we have an opportunity to develop a distribution route from China's northeastern region via the Sea of Japan to Japan."

The Niigata-Trojtsa route was test-operated on Oct. 23, and the whole route is scheduled to open by spring.

"It takes about 10 days to transport cargo from Hunchun via Dalian to Tokyo, while it takes only three days via the Sea of Japan," said an official of the Hunchun government of Jilin Province, which borders Russia and North Korea and is about 70 kilometers from Trojtsa. "Once the marine traffic operation gets on track, I'm sure many Japanese companies will set up branches here."

An expressway connecting Changchun, capital of Jilin Province, where Toyota Motor Corp. has a factory, and Tumen, in western Hunchun, opened in September. China plans to develop the Sea of Japan marine route into a major traffic artery for product distribution from its northeastern region.

However, China is wary of Russian-style business methods. Russia, apparently aiming to decrease the influx of Chinese products, reduced the maximum amount of foreign products allowed into the country tax-free from 50 kilograms to 35 kilograms. According to sources, Russia also is reluctant to simplify customs procedures for products brought into the country via the Sea of Japan.

China and Russia finally settled the demarcation of their border earlier this year after long discussions. The trade volume between the two countries, which rose 25 percent in the January-August period from the same period in 2007, is still expanding. Chinese local government officials say they are optimistic about the future of China-Russia business.
(Nov. 7, 2008)

[crobato]

http://news.jongo.com/articles/08/11...0k34Apxou.html


"Big Bang" Policy to Keep China's Economy Going

November 07, 2008 22:54 Beijing Time
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To invigorate the fizzling economy, the Chinese government is preparing for a "big bang" policy package including injecting more capital into the construction of railways, ports and energy resources and increasing the sales of treasury bonds on long-term infrastructure projects.

The large economic stimulus package will be released after the decision is made at the annual Central Economic Working Conference slated for late November in Beijing, as some officials related to the situation told the Hong Kong-based Wen Wei Po newspaper on Wednesday.

The report mentioned members at the conference will work out how to stimulate domestic consumption and maintain economic growth, and also outline the country's economic policies next year, facing the impending worldwide financial crisis.

With the global financial crisis rippling through the United States and Europe, China's once supercharged economic growth has slowed sharply, dropping from 12.6 percent in the second quarter of 2007 to about 9 percent in the third quarter of this year, according to national statistics.

Falling exports and unstable consumer prices have created big macro-economic challenges for the central government to counter-attack an economic slump, according to the National Development and Reform Commission (NDRC), which has been closely monitoring economic trends.

Some Beijing analysts forecast the economic conference will announce some easing monetary policies and upgrading industry sector standards. Relevant departments, including the NDRC, the central bank, the Finance Ministry and the Commerce Ministry, may also map out plans on taxes, credit and foreign trade.

"Aside from active fiscal policies, the government should cut taxes to lower enterprises' costs and alleviate people's financial burdens, encouraging investment and consumption, the two main engines of the country's economic growth," said economic experts in reaction to a report by the State Information Center, a NDRC research institution.

They also suggested a reasonable allocation of the present market resources in order to promote the upgrade of China's economic structure.

"Under the present economic situation, massive investment in infrastructure construction can stimulate the declining domestic demand and stabilize investment," said Zhang Xiaojing, Dean of the Macro-economic Research Department from Institute of Economics at the Chinese Academy of Social Sciences.

[crobato]

http://news.yahoo.com/s/nm/20081109/...hina_economy_1

China okays $586 billion stimulus to boost economy

By Kirby Chien Kirby Chien – Sun Nov 9, 6:56 am ET



BEIJING (Reuters) – China's cabinet has approved a massive stimulus package worth 4 trillion yuan ($586 billion) through 2010 to boost domestic demand, the official Xinhua news agency said on Sunday.

Investments will be targeted at infrastructure, social welfare and other key sectors as part of an "active" fiscal policy, Xinhua said.

It did not say how the extra spending would be financed.

China ran a consolidated budget surplus in the first half of the year of more than $170 billion, but tax revenue growth is slowing sharply as the economy reels under the impact of the global credit crunch.

The cabinet also announced an explicit shift in monetary policy, which it now described as "moderately easy."

The People's Bank of China has already cut interest rates three times since mid-September and scrapped lending quotas in a bid to support the economy.

Lending to small and medium enterprises will be increased as part of the plan, Xinhua said.

Officials have been flagging measures to pump up demand since gross domestic product growth slowed unexpectedly sharply to 9.0 percent in the third quarter from 10.4 percent in the first half.

Indicators for October have been even weaker.

Giving details of the package, Xinhua said China would invest an additional 100 billion yuan in national construction this quarter and would earmark an extra 20 billion yuan next year for reconstruction in areas hit by major natural disasters.

Sector that will benefit from the extra spending include affordable housing, rural infrastructure, transport networks, environmental protection and technical innovation, Xinhua said.

The cabinet also confirmed a long-awaited reform to the way value added tax is calculated. The result will be to reduce companies' tax bill by 120 billion yuan a year, the agency added.

(Editing by Alan Wheatley and David Holmes)