Uh oh!

China’s 4th quarter growth drops to just 6.8%. I don’t have the exact figure off the top of my head but I recently read an interview with a Chinese official who said that to keep social unrest low and provide jobs and opportunity for the millions of young people entering the workplace each year, the country’s growth had to be above 10% (12%? much more than 6.8%, anyway). Just as you don’t have to have voted for Obama to wish him and our country well, you don’t have to like China’s form of government to hope that the place doesn’t disintegrate, which would cause huge suffering and couldn’t possibly be good for world stability.

3 Comments

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3 responses to “Uh oh!

  1. fred

    China dosent have a +1,000,000 man, standing army for no reason. One thing about China…..they can put up their protectionist wall anytime they want….The powers that be, have no problem knocking off a few million of their own if they see fit. Right now, they hold the keys to the ENTIRE castle and they know it.

    American management of the financial center of the world has proven over and over again just how corrupt they have become……I wouldnt be surprised if China decides not to play anymore and re-writes the book in their own image.

    Internally, China is alot more stronger than we give them credit for.

  2. Anon

    Your regular reader in China here (via a remote connection in the US)…..its actually 8% growth that is the magic number. Think of 8% growth the same as 0% growth in the USA. Thus anything below 8% is kind of like a recession here.

  3. cynic1

    Anon is completely correct…. and lets not forget that the average income in china is about 2000 $ per annum. Im sure your readers would gladly settle for that (sic)… the hysteria about china in todays press reminds me of the hype in the seventies regarding Japan’s growing economy… see where it got them ..