Chinese economy at present: How, what and where do you see China in future
73Growth story of China
China is the talk of the town. Every body is speaking about China and its economy at present. Chinese economy has the highest growth rate in the world since many years. Where do you see China and Chinese economy in the future?
Manufacturing sector of China has a tremendous growth rate. Global market is flooded with Chinese goods. Electronics, toys, electrical goods, household appliances, gems and jewelry, watches everything is from China.
China has achieved highest growth in exports. It has accumulated enormous wealth. It has the highest foreign currency reserve in the world, more than $ 1900 billions. Most of the Chinese money is saved in American bonds. If China withdraws this money it can be proved disastrous for American economy.
America has given China most favored Nation's status and it has crashed the American economy. Moreover, China is preparing to enter into the American stock markets NASDAQ and Dow Jones with its huge foreign reserve. China is planning to pour more than $200 billions into the stock market of America. If they can do this, Chinese will dominate the Wall Street.
China looks irresistible in the economic front at present. Chines economy is booming and booming. It has shown its technological abilities in the Beijing Olympics. It has bagged most of the gold medals too. China has arranged world beauty contest and bagged the miss world title!
China is a super power and it is in the elite N-club with US, Russia, France and UK. It is in the space club with few developed countries and has already sent its mission to the moon. China also possesses veto power in the United Nations organizations.
China is well ahead of the rest of the world in many fields presently.
This is the present China but what is the future? It is likely that China will break for its own reasons. Reasons are not economic but political and social reasons. It is difficult for China to remain united as a country.
N.B. Cheap Mobile handsets of China will suffer a set back in India. These mobile hand sets generally do not carry an IMEI number. Government of India has imposed ban on those Mobile phones not having IMEI number for security reasons.
China on top: A documentary
Chine can break!!!
Why?
China has achieved all these successes by suppressing their own people. Majority of Chinese people do not have the benefits of its tremendous growth. Only few of Chinese people are enjoying the benefits of its growth while others are crying for their misfortunes. This is happening in present China.
China is clearly divided between haves and have-nots. While the Chinese politicians, bureaucrats and business persons are enjoying the growth, the labor class and villagers are left with almost nothing. The haves are riding Mercedes Benz but the majority are looking for a bicycle. Where the haves are wearing branded and designer clothes have-nots have to be satisfied with dress codes prescribed by the government. The hungry villagers depend upon the rationing food and the city people are enjoying McDonald or pasta.
Elite is flying business class and maintaining private jets but the villagers require permission to go out of the village. Will China change all these in future?
There is no life for them what to talk about lifestyle!
China censors not only the news but also Internet. Chinese administration keeps their people apart and segregated from the rest of the world.
Chinese government is oppressive in Tibet. Noble Laureate (Peace) Reverend Dalai Lama, is not allowed to enter into Tibet, his native place. He is living in exile in Dharamshala, India.
Hence, the bubble may burst one day. Tienanmen Square may be repeated many times. Rebellions are raising their heads in many places. Communal riots are often. However, news does not spread out of the iron curtain.
Severe economic, social and political disparities will not allow the upper class to sleep in a soft bed.
The oppressed may woke up any time as they wake up from the addiction of opium against the British.
It is obvious that no military power can resist them.
It is likely that China will break down in near future despite their rosy present as the Mighty USSR broke.
Will Chins break like USSR (Soviet Russia) ?
See results without votingUpdates
1. President Obama has welcome Dalai Lama in the White House despite strong resentment from China. China had threatened the US against this action. Chinese Government categorically informed the US that this action would affect bilateral relation adversely. However, President Obama ignored Chinese threat and invited Dalai Lama.
Chinese government has not taken any adverse action against America so far. Chinese economy is badly dependent on the US and it is difficult for them to go against America. Any adverse action against America may result in severe down fall in Chinese exports to the US.
2. Chinese President has admitted recently that the wealth created in Chinese economy is not properly distributed. He told that Chinese rural population is still suffering with poverty. He added that proper health care and education facilities are to be provided to the rural population of China.
Updated on march 7, 2010.
The hidden China
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Predictions of an Economic Collapse in China
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Dear Dr Kothari,
Your hub is very well written and comprehensive. Still, there are certain issues that I may wish to point out. For a long time I had been critical of everything about China. May be because of the overwhelming amount of literature that seek to downplay China as an entity. Very true that there are contradictions in the economy. But the foundations are very strong in CHina and the moves by the Chinese authorities are quite calculated towards the welfare of the Chinese lot. When we compare China with India, being Indians we have a misplaced patriotism that gets comfort in finding faults with CHina. But the condition in India is much worse. The people of India are opiumised about the growth story of India which is very fragile. Kindly have a loot at the article http://lokkatha.com/150/index.php/economics/136-an To conclude, In comparison to India, Chinese economy is much more stable and strong. We should appreciate the same. Anyway, your hub is an extremely well written and authoritative piece of document that provokes thought process. Tanks a lot for writing on this critical issue.
Regards
Purnima
GOD BLESS YOU ALL..
Hi Jyoti
I am a chinese, and no offence, I have to disgree with some of your points. first, I believe many chinese people are enjoy the growth of China's economy growth. compare to the life 10 year ago and now, my family's life quality really improved a lot. it is true that many villagers never got a chance to eat McDonald or pasta, but they are not hungry. China has 1.3 billion people, it is impossible for government to make sure everybody have the same life quality. actually Chinese government invested alot of money to develop those rural area. As a China chinese, I don't want China break, and I don't think real Chinese people will against their goverment, I believe China government will change in the future, but definely not now, because we Chinese people are not ready for that, if government change now, there would be nothing left for chinese but endless choas. I hope one day people in the other counties can understand what china government doing is very very important for this country's future.
Again, no offence, this is just my personal opinion.
What an article!! Completely in new dimension!
Thanks.
Hi Zitengyang,
Thanks for your comment. It is better if China solves its social problems. After all, development is for people and they must get fruit of it.
Jyoti Kothari
I am sorry.A mistake happened just now.I am very glad to see your article. We Chinese people now know that our country is facing a huge social crisis.But we now find ways to solve them.And,let more people to share the development of our economy.
I am Chinese?
Hi Marietta,
Thanks for your comment and question. We have seen through out the history that rulers often ignored problems of common men till it bursts.
Perhaps Chinese leadership is following the same path.
Jyoti Kothari
Hi jyoti,
Presently, You did a great job on your postings on China. Your post helped me understood certain part of China's problem. China has built up huge Industrial Tnfrastructure that poduces wealth for the country, but with a gap in incomes and other problems with the SOEs, I believed and agreed with you that their suffering wii soon be at hand. Can't they see it now as we are seeing it?
Hi Jyoti,
we are facing problem with Chinese goods. American Government has commited bloonder by giving China status of MFN. American industries are now suffering because of that.
Thanks for off topic hub. You have brought us out of mechanical thinking.
Norman
Hi Josephine,
you are rightly commenting. Some political leaders, communist party members are deciding fate of China. There is no or few opportunity to choose one's destinee by him or herself.
it is in the interest of Chinese administration to have a liberal policy otherwise China can be broken with its own weight.
Jyoti Kothari
Hi Jyoti,
I believe that growth of China is amazing and it has broken all records of progress. However, fruits of progress are not adequately distributed. That will cause China to suffer.
Thought provoking hub!! Thumbs up.
Josephine
Hi Den Xiao,
Thanks for your comment and showing agreement with me. Yes, Chinese engineers are high in demand overseas but they can not move out of the country and have to live with their fate.
Jyoti Kothari
Hi Jyoti,
I agree with you and Lian. native Chinese are forced to work like beasts for a poor compensation. Though high in demand in foreign countries, Chinese professionals especially engineers can not move out of their country.
Den
Hi Lian,
Thanks for your comment and supporting my idea. Do you think people of China can be liberated and enjoy fruit of their toil?
Jyoti Kothari
Hy ,
I agree with you. some of my friends still live in China and want to come out of China. They are not getting permission to come out. Permission denied by the authorities.
They are not happy with their present situation and want to come out and to live in a liberal society.
Lian
Hi Monalisa,
China has developed a lot. Howver human rights violation can lead it to break in future. The poll in this hub also suggests that.
Jyoti Kothari
hi Jyoti,
You have posted unique. I thought so many times about human rights in China. You have clarified it well.
I also think that China will break in future.
mona
I wish, China will act differently with its own people.
Jyoti
Jyoti,
Growth of China is tremendous. It is difficult to say whether will it break or act differently in the future.
Ofcourse, it may break if does not change. You have unique idea.
Surendra
Eyeam4anarchy,
They will.
Jyoti Kothari
I'd really like to see the Chinese people free themselves.
China is doing wonderful now. It is worth visiting.
Oh China will break eventaully under the pressure... BTW I really want to go to China. Thumbs up!
Chinese people are now more and more exposed to outer world that allow them to learn about the freedom enjoyed by the citizens of other countries. They do know that their country is becoming rich by exploiting them only.
I believe that they will revolt against their leaders sooner or later.
People learn to achieve through researching the success of others. I am sure China copied from one of the other nations to be where they are at now then through time and yes, subjugation and exploitation of their own people, they now command a world economic platform. One day, their people may strike back and say no more but as long as they agree to conform and obey their leaders, they will unfortunately keep that title of a super power no matter how they earned it. The people will break one day though, I agree.
Dear jyoti,
You have an unique idea. It seems that China will break-out and have valid and enough reasons for that.
What do you think about majority of Chinese people?
See results without voting
JYOTI KOTHARI Hub Author 5 months ago
Dear Purnima,
Progress of China is visible. We are not denying that. However, there are problems inside and I have tried to point out those.
Economic strength of India is enormous. I have posted few articles focusing on Indian economy and its amazing growth. If you read articles in Forbes, you will find focus on India nowadays.
Biggest problem of China is its dictatorship and India's strength is in its democracy. Indian democratic system is continually washing out its evils and it is emerging and continue to emerge as a strong nation both in economic and military front.
Thanks for your well written comment. I appreciate it.
Jyoti Kothari