Transcript Economic Freedom in China-IR

Mr.
Weiss
Economic Freedom in China
Mr.
Weiss
Economic Freedom in China
Mr.
Weiss
Economic Freedom in China
Modern China – The Peoples Republic of China – (2:34)
Mr.
Weiss
Economic Freedom in China
Through the 1990’s and continuing today, China
continues to move more and more to a market based
(capitalism) economic system.
China’s economy grows 9.5% in 2004. ……Gross
Domestic Product (GDP cam to 13.65 yuan (US$ 1.65
Trillion) as exports continued to drive expansion. It’s
very strong data. There is no sign of a slowdown in
2005. This is an economy fully capable of growing 8
to 10 percent for many years, said Tim Condon,
economist at ING Barings. (chinadaily.com.cn)
Mr.
Weiss
Economic Freedom in China
GDP growth in China 1977-2010
Year
1977
1978
1979
1980
1981
1982
1983
1984
1985
1986
% Growth in GDP
7.6
11.7
7.6
7.8
5.2
9.1
10.9
15.2
13.5
8.8
Average U.S.
GDP growth
is 3 – 4% per
year
Year
1987
1988
1989
1990
1991
1992
1993
1994
1995
1996
% Growth in GDP
11.6
11.3
4.1
3.8
9.2
14.2
13.5
12.6
10.5
9.6
Mr.
Weiss
http://www.chinability.
com/GDP.htm
Year
1997
1998
1999
2000
2001
2002
2003
2004
2005
2006
2007
2008
2009
2010
Economic Freedom in China
GDP growth in China 1952-2011
% Growth in GDP
'Rapid growth to sustain
8.8
20 years‘ - By Chen
7.8
Weihua (China Daily) 7.1
Updated: 2007-06-11 08:54
8.0
China has been in a high growth mode since it started
8.3 economic reforms in the late 70s. Its almost three decades
9.1 of high growth is the longest among the 11 high-growth
10.0 economies in the world and part of "a recent, post-World
10.1 War II phenomenon". And the Chinese economy will
9.9 sustain its fast growth for at least two more decades.
These are the words of no less a person than Stanford
11.1 University professor Michael Spence, who shared the 2001
11.4 Nobel Prize for Economics with Columbia University
9.6 professor and former senior vice-president of World Bank
8.7 Joseph E. Stiglitz and University of California (Berkeley)
professor George A. Akerlof.
10.4
Mr.
Weiss
Economic Freedom in China
Poverty in China: Is There a Way Out?
Poverty in China is often overshadowed by average annual
GDP growth rates of 9% or more. According to the World
Bank and UN statistics, approximately 200 million Chinese
people live on less than 5/day; Furthermore, 482 million
people live on less than US$2/day – a figure that is greater
than the populations of the US, Germany and the UK
combined. Although many are quick to point out to the
number of people lifted from poverty in China over the past
few decades, poverty reduction is slowing down and a gap
between the rich and the poor is opening up:
http://laowaiblog.com/banking-for-the-poor-2/
Mr.
Weiss
Economic Freedom in China
ENVIRONMENTAL PROBLEMS IN CHINA
Environmental problems in China are already at a critical level and
they are getting worse. Rapid development has transformed huge
swaths of the country into environmental wastelands. Acid rain
corrodes the Great Wall; parts of the Grand Canal resemble open
sewers; parts of Shanghai are slowly sinking because water beneath
them has been sucked out; and some cities are so clogged with air
pollution they don't appear in satellite pictures. Reports indicate that
only 32 percent of China's industrial waste is treated in any sort of
way. Already there are concerns of millions of environmental
refugees in China and sulfurous rain clouds drifting from China to
Japan and Korea.
http://factsanddetails.com/china.php?itemid=394&catid=10&subcatid=66
Economic Freedom in China
Appetite for energy fuels China’s fears.
Mr.
Weiss
(NY Times – 6/28/05)
China: Environmental Issues – China’s gradual
transition to a market economy, which has been
proceeding for two decades, has put China among the
world’s fastest growing economies. While economic
growth has increased incomes and improved health
indicators, as well as reduced overall poverty levels,
growth has not been totally benign. Environmental
pollution from coal combustion is damaging human
health, air and water quality, agriculture and ultimately
the economy.
Mr.
Weiss
Economic Freedom in China
Powerful economies; abundant poverty
Asian giants China, India strive to keep ahead of problems
Associated Press
Posted Sunday, January 14, 2007
SHANGHAI, China — Poverty, water shortages,
environmental crises: Asia’s booming giants,
China and India, confront daunting challenges as
they strive to keep their economies expanding
fast enough to raise growing numbers of their 2.3
billion people out of poverty.
Mr.
Weiss
Economic Freedom in China
Powerful economies; abundant poverty
Asian giants China, India strive to keep ahead of problems
Associated Press
Posted Sunday, January 14, 2007
…China’s communist leaders, who face no
electoral pressures and do not tolerate public or
organized dissent, have acknowledged the threat
to the party’s nearly six decades’ old rule from
public anger over widespread corruption and the
widening gap between rich city dwellers and the
rural poor….
Economic Freedom in China
Mr.
Weiss
Time Magazine –
January 22, 2007
Mr.
Weiss
Economic Freedom in China
How China’s exploding appetite for natural
resources is reshaping the world.
Chicago Tribune – December, 2006 - Evan Osnos
Cashmere
Timber
Oil
Your cheap sweater's real cost
The coming fight for oil
The hidden cost of your hardwood floor
http://www.chicagotribune.com/news/specials/chi-china-special,0,6789511.special