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—As the Chinese authorities greets the new year 2010 as the “ year of the tiger” with high hopes, many economic observers in the west says it is “ over-heating.” This observation was made after China posted a 10.7 growth rate last year. This was attributed to the Chinese government stimulus or infusion of money to the economy much like what the US did in 2008-2009
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EPCC NEWS
January 25, 2010
CHINA’S ECONOMY OVERHEATS?
Los Angeles—As the Chinese authorities greets the new year 2010 as the “ year of the tiger” with high hopes, many economic observers in the west says it is “ over-heating.”
This observation was made after China posted a 10.7 growth rate last year. This was attributed to the Chinese government stimulus or infusion of money to the economy much like what the US did in 2008-2009.
This again was proven when China overtook the US as the world automaker and production of cars.
As early as the late 1980’s the China embarked on building infrastructure for transportation like freeways or super-highways. While the US automaking industry is on the wane China is on the upswing.
The US is dependent on China on may aspects of its economy. The latest is the drywall factories in the US closed own while dry-wall making became a hit in China. The US is now importing drywalls for its construction jobs in the US.
It is not only China;s economic might that the US is afraid of. China has build a marine corps and a submarine fleet that can counter the US 7th Fleet in the Pacific.
For along time, China has no marine corps under its People's Liberation Army (PLA) But now it does.
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Original: CHINA’S ECONOMY OVERHEATS?