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China announces $586B stimulus plan
http://edition.cnn.com/2008/BUSINESS/11/09/china.stimulus.pa...
Submitted by
cij
2 months, 23 hours agoChina is pump-priming too.
Tags: China
#1 - By jghumberstone, 2 months, 17 hours ago.
My thoughts are that China benefits from the world economy being strong - not the other way around as the Australian government would like you to believe. China simply makes 'stuff' for the rest of the world...poor quality at that. This package will just delay the inevitable and when it all goes bad it will go really bad.....
"The consensus view is that China’s economy needs to grow at a minimum of eight per cent a year to manage the mass migrations from its rural areas to its cities without undue social dislocation or political stress." #2 - By cij, 1 month, 2 weeks, 1 day, 22 hours ago.
A little note about China's poor quality:
No doubt, there is a perception of poor quality of manufactured Chinese goods. Japan also went through that phase in the 1950s and 1960s. Japanese goods were also perceived to be of poor quality back then. #3 - By jghumberstone, 1 month, 2 weeks, 16 hours ago.
Yes, and they were poor quality back then. But since then things have improved. When China changes focus from pure 'growth' at any expense, which might happen as a result of the sudden drop in world-wide demand for cheap 'stuff', then maybe things will change.
I blame the general poor quality of goods mostly on a world which in recent years has obsessively demanded low cost 'stuff'. China has obliged - good for them in the short term but it comes with a reputation. When the boom eventually busts in China in the next year or two they will have an opportunity to consolidate and improve things on the quality side. |
