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News on the Chinese Economy

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As property soars, Shanghai loses talent
Apr 30, 2010 (WiC 58)

Silent is Cambridge tonight… very quietly I left… Not even a wisp of cloud will I bring away.” So ends Xu Zhimo’s Saying Farewell to Cambridge – a poem that few alumni of the British university will be aware of. But it turns out to ...

Tower blocks and treadmills

Debate heats up on whether China is world’s biggest “bubble”...
Apr 23, 2010 (WiC 57)

"I can calculate the movement of the stars, but not the madness of men.” This was the justification given by Sir Isaac Newton when he lost a fortune investing in the South Sea Bubble nearly 300 years ago. With subsequent bubbles, smart ...

Paper industry booms at expense of economy
Apr 23, 2010 (WiC 57)

Drought is still ravaging China’s southwest – and climate change is not the only culprit. Environmentalists and academics say the ‘once-in-a-century drought’ was made much worse because native forests were cut down to make way for ...

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. ...

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