The strength of the economy in China
Some of the numbers coming out of China lately have spooked economists and investors, and there’s a real debate as to the strength of the Chinese economy. This article in The Economist takes a more positive outlook.
CHINA’S weight in the global economy means that it commands the world’s attention. When its industrial production, house building and electricity output slow sharply, as they did in the year to April, the news weighs on global stockmarkets and commodity prices. When its central bank eases monetary policy, as it did this month, it creates almost as big a stir as a decision by America’s Federal Reserve. And when China’s prime minister, Wen Jiabao, stresses the need to maintain growth, as he did last weekend, his words carry more weight with the markets than similar homages to growth from Europe’s leaders. No previous industrial revolution has been so widely watched.
But rapid development can look messy close up, as our special report this week explains; and there is much that is going wrong with China’s economy. It is surprisingly inefficient, and it is not as fair as it should be. But outsiders’ principal concern—that its growth will collapse if it suffers a serious blow, such as the collapse of the euro—is not justified. For the moment, it is likely to prove more resilient than its detractors fear. Its difficulties, and they are considerable, will emerge later on.
Check out the entire argument presented in the article. This issue will be front and center as the world grapples with the problems in Europe. A real slowdown in China could be catastrophic.
Classic and Fast Can Mix in Your Pocket
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There is nothing like when a culture experiences a strong and sudden change. With China going through a revolution over the past generation that is larger than anything since Germany’s military ramping up prior to World War II, the world has to take notice. While there is nothing violent about this change, wise people notice when a hard working people begins to develop a whole new vision that changes their entire lifestyle.
Speed and classical design have begun to mix in China in a way that hasn’t been seen since the Japanese began modernizing in the 19th century. These types of changes do not come around very often, and the world can only ignore this powerhouse at its own risk.
Few things have hit China or the world with quite the speed of the smart phone revolution. While the Blackberry Bold may not seem like a massive change from the old standard, its departure from the classical mold is downright striking when you take it in context. Few inventions or improvements of the past few generations can even come close to comparing to this technology, considering how it has changed life for so many people.
Consider that a generation or two ago, most Chinese people barely had what many westerners consider to be basic utilities in place. Nowadays, they not only have the utilities and infrastructure but the information access capacity that used to be the domain of extremely affluent and well established countries. It’s a whirlwind of change happening all at once.
The Classical Elements
It has been said that the perfect design is one that a person can easily and instinctively figure out how to use. If that is the case, modern smart phone technology has a nearly perfect hold on the minds of its users. When a person can figure out in mere moments how to access just about any information that exists, this is a victory that has few precursors. While the technology itself is very new, the purposes behind it are as old as humanity itself.
The classical appeal of something that contains massive amounts of information and allows you to communicate with others is the modern epitome of what it means to be human in the first place. In China and everywhere else, being able to connect with anyone and everyone is an incredible achievement for everyone. The fact that it’s accessible to anyone is a feat that could not have been performed in generations past.
Keeping Them Merged Seamlessly
It’s an interesting juxtaposition to merge the fast and the classic. When the quest for knowledge and the speed of its access come together, everyone wins in ways that most people could not have previously imagined. This ability to share communication and knowledge is a victory of human intention that was first tested in Europe, perfected in the United States and brought to China for its ultimate realization. As the Chinese learn and communicate more effectively than ever before, their wealth and freedom cannot help but grow exponentially.