Chinese economy - worrying !

[unclebulgaria67]

Very interesting article for those who follow world economics.

 

http://www.smh.com.au/business/china/chinas-real-estate-credit-and-investment-bubble-risks-global-recession-20150717-giebmc

 

Some of the statistics quoted are alarming. Perhaps the Chinese economy is not as strong as some believe and their conversion to capitalist economics will end up in a bust. If there is a sudden market failure in China, then it will affect everyone.

[san_d]

There has been a global market failure since 2008.

[unclebulgaria67]

Yes, current version of capitalism does not work. Needs major surgery.

[Conniff]

Some Chinese lie, cheat and sell the world dangerous junk. Let it happen.

Edited July 23, 2015 by Conniff
Edited to show it is 'some'.

[aburobert]

The Chinese lie, cheat and sell the world dangerous junk. Let it happen.

 

Rather a 'racist' generalisation against a country we do a great deal of business with and who have invested rather large sums of money in our economy. If the Chinese economy 'catches a cold' we are going to feel very poorly as a result.

[aburobert]

I did not call you a 'racist' - I implied the comment was and I still do:

 

"The Chinese lie, cheat and sell the world dangerous junk. Let it happen."

 

If I was Chinese I would take great exception to your comment as it implies ALL Chinese are so. If I was you I would delete your comment as well as mine. You are standing on very rocky ground with your very selective censorship.

[Conniff]

I implied the comment was and I still do:

Which implies I am as I made it.

 

More rubbish and dangerous goods are smuggled into this country from China than any other. Fake medicines being the worst of them.

[aburobert]

 

More rubbish and dangerous goods are smuggled into this country from China than any other. Fake medicines being the worst of them.

 

No one denies that - but you cannot tar every Chinese person with the same brush. Just as you cannot make generalisations about any ethnicity or nationality that is disparaging.

[Conniff]

Due to silly off topic posting, I have now closed this thread.

[Conniff]

For the sake of clarity, I was not referring to all the Chinese people and have amended my post to show that. I'm reopening the thread.

 

To those that want to take things too literally and read into it something that isn't in there, all I can say is get a life.

Edited July 23, 2015 by Conniff

[Conniff]

I look forward with great glee to the Chinese economy collapsing.

[BazzaS]

I look forward with great glee to the Chinese economy collapsing.

 

With the knock on effects for the rest of the world??

King Pyrrhus would be proud!

[unclebulgaria67]

For the sake of clarity, I was not referring to all the Chinese people and have amended my post to show that. I'm reopening the thread.

 

Never thought you were. I just smiled when i read the comment.

 

Are you sure you are not Prince Philip ?

[Conniff]

With the knock on effects for the rest of the world??

King Pyrrhus would be proud!

 

I don't care about the rest of the world, only the United Kingdom and Northern Ireland.

[fletch70]

I don't care about the rest of the world, only the United Kingdom and Northern Ireland.

 

I do hope that the above comment was tongue in cheek

 

I think that with the global economy if China collapsed we would be hit very heavily just as the saying if america sneezes the rest of the world gets a cold

[fletch70]

Which implies I am as I made it.

 

More rubbish and dangerous goods are smuggled into this country from China than any other. Fake medicines being the worst of them.

 

Yes fake medicine is pretty ****e , but if you need a blue pill go to India !

[unclebulgaria67]

UK Banks could be in severe difficulty if the Chinese economy collapsed. The world is so inter connected.

[BazzaS]

I don't care about the rest of the world, only the United Kingdom and Northern Ireland.

 

The rest of the world from China. This includes the UK.

 

BTW: it isn't "The UK and NI". NI is in the UK.

The UK is "the United Kingdom of Great Britain AND Northern Ireland".

Try that line on a Unionist in NI, and watch the fireworks!

 

Did you mean either / both of "Great Britain & Northen Ireland" / "the UK" when you said "the UK & NI"?

 

As for "not caring about the rest of the world" other than the UK (so, not just China that you don't care about) : do you really believe the UK won't be hit hard if the rest of the world's economies are hit?

[Conniff]

Rather a 'racist' generalisation against a country we do a great deal of business with and who have invested rather large sums of money in our economy. If the Chinese economy 'catches a cold' we are going to feel very poorly as a result.

 

Oh look, a racist remark in a paper

 

Chinese are best known as masters of cheap knock-offs. From fashion to electronics, and now cars.

 

Read more: http://www.richestlifestyle.com/20-chinese-replica-cars/#ixzz3iaahIS7q

[JoeyJoeC]

.... well... they do all look the same...

 

I am joking please dont kill me!

[king12345]

If china stopped producing all goods tomorrow we'll be back to the stone age

[unclebulgaria67]

If china stopped producing all goods tomorrow we'll be back to the stone age

 

No, we would have some stone left !

 

Have you seen the pictures of all the new towns built in China that are not even occupied. The shadow banks have financed developments, without thinking who was going to buy the properties.

[citizenB]

If china stopped producing all goods tomorrow we'll be back to the stone age

 

I doubt that... we were self sufficient before China started its investments in this country, we could be self sufficient again.

 

Quite a few of their products are not safe.. that includes toys, electrical items and knock off drugs.

 

 

http://www.fda.gov/NewsEvents/Testimony/ucm391480.htm

 

Many of the challenges associated with globalization manifest themselves in China; however, challenges we see in China mirror challenges we see in other countries with developing regulatory systems. In recent years, FDA has faced several public health threats related to imports from China. The members of this Commission will recall the threats to the safety of the country’s heparin supply in 2007 and 2008, which emerged when Chinese suppliers of heparin (a critical drug that helps to prevent blood clots) substituted a lower-cost, adulterated raw ingredient in their shipments to U.S. drug makers. This substitution caused numerous deaths, as well as severe allergic reactions. In 2007, FDA found shipments of toothpaste from China that contained poisonous levels of diethylene glycol, a product used in antifreeze. And in China’s domestic supply chain in 2012, numerous companies used industrial-grade gelatin to make pharmaceutical-grade gelatin capsules for drugs and dietary foods. This industrial-grade gelatin contained more chromium than the edible gelatin that firms should have used.

[JoeyJoeC]

No, we would have some stone left !

 

Have you seen the pictures of all the new towns built in China that are not even occupied. The shadow banks have financed developments, without thinking who was going to buy the properties.

 

They built these places far away, and with high price tags hoping that it will attract rich people to move there. They try to cover up that no one is buying them. Watched a doc on TV about it where they would even have full sized shopping malls built which are mostly empty because the rent is so high.

 

They won't bring down the costs and yet they have a big problem with homelessness.

[unclebulgaria67]

They built these places far away, and with high price tags hoping that it will attract rich people to move there. They try to cover up that no one is buying them. Watched a doc on TV about it where they would even have full sized shopping malls built which are mostly empty because the rent is so high.

 

They won't bring down the costs and yet they have a big problem with homelessness.

 

Plenty of migrants who might be interested. Why does China not think outside the box and use foreigners to create wealth in their country. They might bring something different to the party. E,g proper building skills.