SherrySongSHSF Post time 2017-10-21 09:58:21

Economy defies doomsayers

This post was edited by SherrySongSHSF at 2017-10-21 10:00


China's economic growth looks set to accelerate this year, the first time in seven years, after it registered a 6.8 percent year-on-year GDP growth in the third quarter. Given that growth trend has been achieved against the backdrop of both domestic structural reforms and the still fragile global economic recovery, it showcases the exceptional resilience of the world's second-largest economy.
China's GDP growth in the first three quarters has been in stark contrast to the scenario depicted by many doomsayers late last year. Even more reassuring, while a variety of economic indicators are showing signs of steady growth, the country has also made much headway in carrying out the tough task of economic restructuring.
Industrial output growth, for example, increased to 6.7 percent in the first three quarters from 6 percent a year ago, with high-tech manufacturing and equipment-making industries, which are the backbone of a country's industrial development, showing brisk performance. The growth in their output was 13.4 percent and 11.6 percent, respectively, 6.7 percentage points and 4.9 percentage points higher than that of overall industrial output.
Another case in point is retail sales growth, which remained strong at 10.4 percent in the January-September period. Although that was unchanged compared with a year ago, online sales increased by 34.2 percent, 8.1 percentage points higher than a year ago, indicating the bigger role played by this new driving force for consumption.
In terms of the supply-side structural reform, China has continued to reduce its leverage levels and the country's investment in environmental protection, public facility management and agriculture all registered much higher growth than overall investment expansion.
Such encouraging fundamentals have been achieved thanks to the government striving for innovative, coordinated, green, open and shared development.
As Xi Jinping, general secretary of the CPC Central Committee, said on Wednesday, while expansion of economic scale remains important, top priority must be given to the quality of growth.
It is a focus that will ensure sustainable long-term growth.(news from China Daily)

Ted180 Post time 2017-10-24 22:15:02

But remember it is GDP PER PERSON that tells you how good life in a country is!

emanreus Post time 2017-10-29 15:30:02

Ted180 Post time: 2017-10-24 22:15 static/image/common/back.gif
But remember it is GDP PER PERSON that tells you how good life in a country is!

I wonder what the GDP per Person in Puerto Rico would be!
I know, couriosity killed the cat...

Ted180 Post time 2017-10-29 23:38:25

This post was edited by Ted180 at 2017-10-29 10:42

emanreus Post time: 2017-10-29 02:30 static/image/common/back.gif
I wonder what the GDP per Person in Puerto Rico would be!
I know, couriosity killed the cat...
Definitely lower than in USA proper. I'll look it up. About $28,000. Half that of the 50 states. Bet it's the highest among the populated Carib islands except for off-shore banks like the Caynman Is.

emanreus Post time 2017-10-31 14:18:30

Ted180 Post time: 2017-10-29 23:38 static/image/common/back.gif
Definitely lower than in USA proper. I'll look it up. About $28,000. Half that of the 50 states. Be ...

Pardon my ignorance;
but in America they got a strange way of talking numbers.
I never care about number games; only what's inside the good old fashioned pay packet is of importance.

A good example:
  A Malaysian journalist who went undercover to expose exploitation in Victoria’s fruit picking industry said workers were “brainwashed” with religion and trapped in debt to keep them on farms.

Modern slavery Down Under is very real...
Fruit pickers, often working illegally, were lured to Australia with promises of high incomes. When they arrived, they were paid a pittance, kept in overcrowded homes with exorbitant rent and effectively trapped in debt bondage.  Abuse of the 457 visa...
Paid A$110  for 24 hours work over four days. About $80 went to pay rent in a small home he shared with 11 other workers, mostly from Malaysia. He was short-changed $10 by his contractor, leaving him with just $20.
  In August, the justice minister, Michael Keenan, announced plans to impose a legal requirement for companies with a turnover larger than $100 million to file a public modern slavery report each year.
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