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News on the Chinese Economy

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Feeling powerless

Is China’s low-cost manufacturing model unravelling
Apr 16, 2010 (WiC 56)

It must feel like a tough time to be a Chinese factory owner. Even as demand from overseas picks up, labour costs seem to be on the increase, and a renminbi strengthening is on the cards. And now the once plentiful supply of state-subsidised ...

The shoe factory looking for 47,500 workers
Mar 26, 2010 (WiC 54)

This year, Hubei-native Gou Ximei had more choices than usual. Her annual trip to her hometown was almost over, and she had already bought a bus ticket back to Zhongshan, an industrial town in Guangdong, where she had worked in a shoe factory for ...

Beijing wings it

China’s top leaders angered by timing of capital city’s land auction
Mar 19, 2010 (WiC 53)

"The falcon cannot hear the falconer; things fall apart; the centre cannot hold.” These WB Yeats lines – perhaps his most famous and part of his apocalyptic poem, The Second Coming – carried a strange resonance for China’s senior ...

Bad with numbers

Accurate statistics are hard to come by
Mar 12, 2010 (WiC 52)

Throughout China’s long history, numbers have been used by the country’s leaders to serve their political ends. This trend may have reached its zenith under Mao Zedong. His followers were told to cleanse the country of the ‘five’ black ...

Standards are slipping

Has China started a campaign to freeze out foreign businesses?
Mar 5, 2010 (WiC 51)

Call it customer inflation. Carl Crow, the American owner of China’s first foreign advertising agency, is best known for his 1937 bestseller 400 Million Customers. But seventy years on and another American, James McGregor, was setting his ...

China’s Achilles heel

Beijing is worried that local governments could create $439 billion of NPLs
Mar 5, 2010 (WiC 51)

Last June a 13 storey building in Shanghai caused a sensation. That’s because rather than standing vertical, it ended up horizontally on its side. The apartment block – located in the Lotus Riverside complex – became a cause célèbre ...

The great migration

China’s manufacturing base is facing a massive people shortage
Feb 19, 2010 (WiC 50)

On January 24, 1984 a train pulled into Guangzhou Railway Station. From it exited China’s paramount leader, Deng Xiaoping. Without exchanging pleasantries, he told local officials: “I proposed the establishment of the special economic zones. ...

Taiwan’s new investment law
Feb 19, 2010 (WiC 50)

In spite of the latest hue and cry over US arms sales to Taiwan, economic links between the island and the mainland are only getting deeper. Taipei may have spent $6.4 billion on American missiles and helicopters, but Taiwanese companies have ...

For what it’s worth

For what it’s worth
Feb 19, 2010 (WiC 50)

It’s the whipping boy that refuses to go away. It is, of course, China’s currency. The renminbi’s peg was effectively fixed at 6.8 to the dollar in mid 2008 when exporters were hit hard by the global economic crisis. But business has ...

More than enough

Why ‘overcapacity’ is the new buzzword in government circles
Feb 12, 2010 (WiC 49)

Chery Automobile has grand visions. In order to fulfill them, last month it began construction of a new factory in Wuhu. The plant in Anhui province will have a floorspace of around 1.61 million square metres. Lest that number seems a bit ...

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