I’ve returned to Hong Kong, where the Net connections are excellent. The difference between here and Shanghai is amazing, in many ways.
Posted by: Marko on November 16, 2004 08:01 PM
Five Rivers versus WalMart
Did you know that Walmart was dumping TV’s on the market at lower than market prices and that this was possible (partialy) because China has purpously devalued the Yuan (their currency) and held it down artificialy for years? This is a MAJOR cause of job-loss in the United States.
OK, this is from a friend of mine who sometimes gets out of control, but can someone tell me how legit it is?
If manufacturing is the baseline of our economy and someone else is doing (manufacturing) more than us, does that mean that they are gaining on us as an economic power in the world? Last quarter trade deficit with China was over $120Billion!
Posted by: Ara on November 17, 2004 04:20 AM
It’s only a matter of time before China will be a bigger economy than the US. Current World Bank estimates put the changeover as happening at about 2025; using current GDP and growth rates puts it at more like 2040. But: it will happen sooner or later.
Posted by: Raymond Schweppe on November 16, 2004 04:59 AM
Don’t let the door hit you in the ass when you leave!