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Posts Tagged ‘chinese economy’

Is China recession proof?

May 28th, 2009 10 comments

In this McKinsey report, a panel of leading Chinese economists explains how the world’s fastest-growing economy has kept expanding despite the global downturn.

China’s economy has demonstrated remarkable resilience in the midst of a worldwide slump. How has the country coped with the financial crisis? Is China finally emerging as an engine of global demand? Can its economy generate enough new jobs to maintain social stability? What will drive future growth? How should foreign firms in China adapt? In this interview, conducted by McKinsey’s Janamitra Devan in March 2009 in Beijing, four distinguished members of the McKinsey Council on China Business Economists explore these questions. Watch the video, or read the transcript below.
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Time for a More Equal Economic Partnership Between the U.S. and China?

November 16th, 2008 7 comments

Since China opened to the world some 30 years ago, China has witnessed unprecedented economic development and growth.  However, the economic relationship China has with the West has been a decidedly subservient one.

In the global economy, China would specialize in making high volume, low cost products in return for high value technology and services from the West.  The profit that China makes would be recycled back to the West (especially the U.S.) in the form of loans / credits.  Despite the recent global financial crisis, I do not expect this basic pattern to change any time soon.

However, the time for some change may be afoot.  For one thing, many economists in the West now seem to be more willing to acknowledge that the Chinese economic growth may be sustainable for the long term.  Even the Economist has been showing more confidence and optimism for China as of late. Read more…