Chinese economy overtakes Japan

Chinese economy overtakes Japan

www.telegraph.co.uk

China has almost certainly overtaken Japan to become the world's second-biggest economy after state officials dramatically upgraded their estimates for the country's growth last year.The fast-growing emerging economy had been expected to surpass Japan next year, but the transition looks to have happened in 2009, based on China's new growth estimates. Its statistics bureau said that China grew by 9.6pc – rather than 9pc – in 2008, meaning its economic output was 31.405 trillion yuan, or $4.6 tril

(visit the link for the full news article)

Thanks Walmart shoppers you made this all possible !

So is anyone surprised by this news ? Is anyone troubled by this news ?

I wonder how will this play out long term ? Seeing how a lot of this new economical fortune facing China is in part related to its cheap manufacturing industry would we not expect to see the cost effectiveness level out in cost to its developed competitors ?

Will this growth not create higher pay for those working in the manufacturing industry there by raising there cost to manufacturing ?

For China's economy to experience real growth do they not need a viable middle class and credit ? As such can China then expect to lose there manufacturing industry to some other 3rd world country in the years to come ?

www.telegraph.co.uk
(visit the link for the full news article)

It seemed in the 80's, japan had the foothold in our markets here in america. Prior to that, it was dominantly made in america* since 2000, it seems chinas products have infiltrated our homes and landfills alike. Too me, at least made in japan, was much better quality products, like sony* everyone loves sony! now its craig, or some no name piece of reycled plastic that breaks in a year, be it a car or tv*

problem is, alot of japanese technological products sol here in america, were expensive by comparison! very. Hence forth, made i china, get imported 3 or 4 times port to port, then sold at bargain prices* to me, that system makes NO sense...would seem cheaper youde think, to ship form one port to another then to warehouse. not ping ponging back n forth!

reply to post by Max_TO


Thank You !!! for pointing that out, .... you should all pat yourselves on the back, afterall you made this possible, ... buying all of their chinese made goods just to save a buck. selling your kids future's down the river.

The sad thing is, most people are completely aware they are doing this, .. but their attitude is " I don't care, as long as I save money"

but at what cost ??? sure you'll save a few bucks now, but your also creating a grim future, ... a future full of minimum wage jobs who make so little they are forced to shop at walmart, ..... creating a vicious circle where only the corporations win.

You think your mining a gold mine, ... not realizing that it's being mined on the other side by state of the art machinery.

Originally posted by Max_TO
Thanks Walmart shoppers you made this all possible !

We can not only thank ChinaMart but just about every other large corporation. I think WalMart did something to the tune of 378 BILLION dollars worth of business in 2008 between the US and China. I'm sure this year will be a little smaller amount but still well above the 300 BILLION dollar mark.

2008

[atsimg]http://files.abovetopsecret.com/images/member/447ab6e0866c.jpg[/atsimg]

[edit on 29-12-2009 by SLAYER69]

I haven't been keeping up with this much, but in 2007 it was USA then Germany then Japan(I THINK). I guess WW2 is becoming history.

[edit on 29-12-2009 by mosesgunner]

Originally posted by ziggy1706
Too me, at least made in japan, was much better quality products

Totally agree. The Japanese were working with similar market conditions to us and were doing wonders due to their superb design and quality. Their cars and audio were just the best around. China seems to dominate on a cost basis with all the worlds manufacturers jumping ship and setting up over there and let's be honest and admit why-

No stupid unions
Less red tape
Industrial base where one can still get local suppliers - very important
Taxes
Not having to fund the social ills through national insurance for the dossers
Workers who want to work

Oh and the most important factor - an endless supply of cheap labour coming in from rural zones and there's still hundreds of millions to come

As was pointed out by another, just imagine when the Chinese middle class starts emerging and buying all it can from the home market too!

reply to post by IntastellaBurst

The sad thing is, most people are completely aware they are doing this, .. but their attitude is " I don't care, as long as I save money"

You're right, I have been having this arguement with family & friends for years now and it seems that's all I hear, or they argue that that's the only place they can afford to shop. They can shop elsewhere they simply choose not to.

What really gets me is the fact that China's goods are dangerous, they export toys that are toxic to our children, pet food that kills our pets, drywall that is toxic starts homes on fire, erodes copper pipes and now homeowners are losing their insurance because of it. And yet knowing all of this and more, people are still buying Chinese. We're losing jobs left and right to Chinese (crappy) manufacturing, yet they keep buying it. It's beyond my comprehension how they are too blind to see how they are hurting their own economy, yet crying "where are all the jobs ? ".


@Max_To

I seriously doubt that this growth will create higher pay for the workers, or improve their working conditions.

Problem in the whole industrial world goes like this:

--

Joe has a monthly wage of 1 000 dollars and he wants a new TV so he can choose following:

1. A good brand TV made in China - $600
2. A good brand TV made in US - $3000
3. A bad brand TV made in China - $100

Joe buys the 3k dollar one in support of local industry. It breaks after a month, he calls the rude support guys in India and they tell him he needs to dish out 2k dollars more for a spare part. Joe gets mad, gets the $100 dollars one and it works for 4 years before it starts acting all weird at which point there's a new better model anyway for another hundred bucks.

That's the whole story, so if you guys have no actual Chinese stuff in your homes (be it real or fake brands) then you're filthy rich and have lots of nerves, time and money to waste.
Of course, then again you don't need to buy any TV, but that was just a simple example - almost everything's made in China nowadays.

Just recently I was looking for a good DVD writer, since my last 5 models died within weeks along with dozens of failed discs. I found a Plextor one with "Made in USA" for about 50e, while Pioneer ones costs 20e. The Plextor one was actually a Samsung with a changed label for which there isn't and won't be Windows Vista driver, it works well though.

[edit on 29-12-2009 by SassyCat]

reply to post by IntastellaBurst


Maybe, the great wal-mart of china, is the choice store for the NWO!
People get suckered into buying the cheap products,the questionable
quality food items,they are then trapped.
Wal-mart drives away all other competition and becomes the store of
the future,the only store.