Is the party over in China? Massive unemployment looms

[OrangeEmpire]

World Tribune —Is the party over in China? Massive unemployment looms

China watchers are predicting a drop in the GNP growth rate this year and for the foreseeable future. Most are attributing the expected fall off this year — from last year’s official 11.4 percent, the fifth year in a row of double digit expansion — to the expected downturn in the U.S. and the world economy in general.

[SIZE=-2]A group of unemployed Chinese migrant workers take a nap in the shade of a building. AFP/Getty Images
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Even the 2007 growth rate wasn’t that high when compared with the peaks of the 1980s and 1990s, when GDP growth in some years surpassed 15 percent, coming out of the stagnation and even losses at the end of the Maoist era. The downturn is going to be welcomed in some Chinese leadership quarters because of the fear of runaway inflation from an overheated economy — now fed by food shortages and the impact of the worst winter in 50 years.

Thoughts?

 

[utvolpj]

just wait until their banking industry fails from bad loans and their healthcare system blows up from the 1 child laws. It'll be real fun then

 

[OrangeEmpire]

just wait until their banking industry fails from bad loans and their healthcare system blows up from the 1 child laws. It'll be real fun then

The U.S. ????????????????

:whistling:

 

[utvolpj]

we may be in a precarious spot right now but it's not even close to China. IIRC their bad loans are in the 70% area. Their "baby boom" (or non-boom) hasn't hit retirement either.

 

[droski]

don't worry when unemployment is 20% in china they'll lie and say it's only 5%.

 

[OrangeEmpire]

we may be in a precarious spot right now but it's not even close to China. IIRC their bad loans are in the 70% area. Their "baby boom" (or non-boom) hasn't hit retirement either.

I would think their biggest problem would be the food shortage.

 

[MontereyVol]

Well, that goes against what they were saying at the Defense conferences out here.

"Due to their large labor intensive market, China's one child policy will leave them with more jobs than people in the next 20 years."

 

[jamesd1628]

. . . . worst winter in 50 years . . . .



Thoughts?

That can't be true in light of global warming.

 

[OrangeEmpire]

No, the winter was caused by global warming.

 

[overseasorange2]

Well, that goes against what they were saying at the Defense conferences out here.

"Due to their large labor intensive market, China's one child policy will leave them with more jobs than people in the next 20 years."

I read an interesting article about 6 months ago on the consequences of the 1 child policy. It states, due to the preponderance of boys being born(girls are often aborted), that by the year 2020, there will be millions more young men than women. Throughout history, whenever this has happened major social unrest is just around the corner. Guys want wives. Guess how the country deals with this........WAR....:no: