India's Woes Make China Look Rosy

[nrj]

A domestic economy competing with export based economy, it happens only in Alex Frangos's books.

 

[nrj]

We are not Chinese who are ashamed of weaknesses being aired so that it is honestly stated and analysed.

And sir its not even the case that our websites are taken down if we criticize or talk against ruling party's propaganda even on economic front !

If the ruling Govt is going wrong on economic measures, then there is opposition which can take over & correct the policy, unlike one party system where whatever the tall leader says it the holy gospel !

 

[ice berg]

A domestic economy competing with export based economy, it happens only in Alex Frangos's books.

I agree with you. The former lags decades behind the other. It is truly unfair to compare China with India.

Reality hurts. Dosnt it?

 

[rock127]

Doom and Gloom of India's Economy? Are you ----ing nuts? You will get a permanent ban for starting an anti-India compaign if you attempt to start a thread like that.

Such a emotional Chinese you are just like others ... can't control emotions and words.

 

[nrj]

Reality hurts. Dosnt it?

No it doesn't hurt because national pride can wait when we are honoring opinions & ideologies of our native people instead of just forcing some party propaganda down their lives crushing all political liberties which in turn dictate the economic policies.

 

[ice berg]

If it can wait, then I see no need for those big words. You would be busy building your nation. But it seems you prefer cyber warfares instead.

I provided the facts. You provided the big words. If you believe that picture is just fantasy and propaganda. then the joke is on you.

And honoring opinions & ideologies of our native people ? muahhahaha, yah, tell that to the illiterate people that. You have plenty, it seems. I am sure you are honoring their opinions and ideologies.

If you think that fantasy and propaganda can bring a nation that far, then you must be living in a bubble world.

 

[Ray]

Let us see China's Rosy Picture.



Economic growth sows unhappiness in China: study


WASHINGTON -- China's economic growth of the last 20 years has generally been met with declining happiness, especially among the poorest members of society, according to a U.S. analysis published on Monday.

The study in the journal Proceedings of the National Academy of Sciences (PNAS) is based on six different surveys on self-reported satisfaction with life since 1990, a period when China's gross domestic product per capita increased fourfold.

"There are many who believe that well-being is increased by economic growth, and that the faster the growth, the happier people are. There could hardly be a better country than China to test these expectations," said lead author Richard Easterlin, professor of economics at the University of Southern California (USC).

"But there is no evidence of a marked increase in life satisfaction in China of the magnitude that might have been expected due to the enormous multiplication in per capita consumption," said Easterlin, who is known for his work in the 1970s on how happiness is often not linked to wealth, coined the Easterlin Paradox.

"Indeed people are slightly less happy overall, and China has gone from being one of the most egalitarian countries in the world in terms of life satisfaction to one of the least."

In 1990, 68 percent of those in the wealthiest income bracket and 65 percent of those in the poorest reported high levels of satisfaction.

But the latter figure has fallen more than 23 percentage points in the past two decades, according to the USC analysis of surveys carried out by the Pew Research Center, Gallup, and Horizon Research Consultancy Group, among others.

Only 42 percent of Chinese people in the lowest income bracket reported high levels of life satisfaction in 2010, said the PNAS report.

Meanwhile, the wealthiest Chinese who said they were satisfied with their lives grew about 3 percentage points, to 71 percent.

"There is no evidence of a substantial uptrend in life satisfaction of the magnitude that might have been expected given the fourfold increase in GDP per capita over the study period," said the study.

While the surveys did not document the reasons for the decline, it is a well-known phenomenon that "growth in aspirations induced by rising income undercuts the increase in life satisfaction related to rising income itself," said the study.

Other reasons may include "home life and the need for a secure job to support it, health, friends and relatives," it added.

Similar trends have been observed in the former Soviet Union and East Germany during their transition periods.

But the study cautioned that it would be "a mistake to conclude from the life satisfaction experience of China, and the transition countries more generally, that a return to socialism and the gross inefficiencies of central planning would be beneficial."

Instead, leaders should take note that "jobs and job and income security, together with a social safety net, are of critical importance to life satisfaction."

The study also applauded the Chinese government for taking steps in the last few years to "repair the social safety net," which it described as "encouraging" for the country's least advantaged citizens.

Economic growth sows unhappiness in China: study - The China Post

******************

Chinese are really rosy and cheerful!

And it is not a joking matter either!

 

[nrj]

If it can wait, then I see no need for those big words. You would be busy building your nation. But it seems you prefer cyber warfares instead.

Yes I am. We are a participatory democracy you see. People vote their choices instead of waiting to obey communist masters.

If you think that fantasy and propaganda can bring a nation that far, then you must be living in a bubble world.

Fact of the matter is that we've free press which provides platform to attract various views on any subject. It equip us with ability to differentiate between propaganda & alternate version of any cosmic reality.

However same is not possible for a human to comprehend the difference when all he/she is fed is the communist propaganda with a world created to favor only the party interests & every dissenting voice is crushed ruthlessly.

A single party agenda controls what you read, what you write, what you support, what you oppose. I am very sure they will soon have mind-control-machine to inject total communist zombiness into the good society.

 

[ice berg]

More words, the pictures shows how empty your words are. You can lie about how much you care about your people. The picture shows a different story.

But hey, keep talking. That is how you do things over there, right?:cool2:

 

[nrj]

Yeah our lies are as big as non-ccp member's participation in china's economic policy !

 

[Ray]

FDI in China falls for sixth straight month

BEIJING -- Foreign direct investment (FDI) in China fell for the sixth consecutive month in April, official figures showed Tuesday, dragged down by a plunge in fund flows from crisis-struck Europe.

Investment from overseas fell 0.7 percent from a year earlier to US$8.4 billion, the commerce ministry said.

Ministry spokesman Shen Danyang blamed the decline on economic woes in Europe — China's key trading partner — and on rising costs in the world's second-largest economy.

"The continual negative growth of China's FDI has to do with factors at home and abroad," he said.

"Globally, the growth of world economy is weak on the whole, greatly affecting global direct investment. And domestically, with the increase in costs, our operating cost advantage has weakened," he said.

"Nevertheless, we remain generally optimistic toward China's FDI prospects."

In the first four months of the year, FDI reached US$37.9 billion, down 2.4 percent from the same period in 2011.

Investment from the European Union, in the throes of a major sovereign debt crisis, tumbled 27.9 percent on year to US$1.9 billion in from January to April.

However, Tuesday's figures showed investment from the United States rising 1.9 percent in the first four months to reach US$1.05 billion.

FDI in China falls for sixth straight month - The China Post

 

[Ray]

How are the facts that have now been appended about China?

Guess who was gloating over the lies that they were pandering so far with unabated glee?

 

[huaxia rox]

Hahahaha! Nice thread Rox. This is just poetic. Maybe we should start a "Doom and Gloom of India's Economy" thread eh? Daredevil? Always too busy hoping and wishing for a Chinese economic collapse, perhaps yours will be the first to go?

actually what took me by surprise the most is how bad the current indian economy is.......as indian economy is so called domestic comsumption oriented coz they cant export too much stuff others need so i used to think like many who tended to believe that the indian economy should be somewhat immune to the uropean dept crisis but the quater figures just turned out really illustrate something the other way around......

i can understand that the oil price is going up while rupee is going down due to a range of serious problems that actually took their roots years back so this may cause some problems but why the situation is so dim is really beyound my understanding.......and some now even talking about letting indonesia replace India in the BRICs:

Will Indonesia replace India in the BRICs? - Business News - IBNLive

 

[Ray]

China's economy sees more contraction in April

China Daily/Asia News Network -- Newly released economic indicators show that China's economy continued to slow in April, raising expectations that the government will resort to greater policy easing to help stimulate the GDP.

Quickly cooling industrial production and fixed-asset investment, together with disappointing trade figures, have overtaken inflation as the key concern for Chinese policymakers.

This is driving Beijing to raise concerns about potential downside risks in the coming months, analysts said.

"The pace of economic growth in April may slow to its lowest ebb this year, mainly dragged down by weak exports and the slumping real estate market," said Liu Yuanchun, deputy head with the economics school of Renmin University of China in Beijing.

In April, China's consumer price index, a main gauge of inflation, eased to 3.4 percent year-on-year from 3.6 percent in March, according to data released by the National Bureau of Statistics on Friday.

Food prices increased 7 percent last month from a year earlier, compared with 7.5 percent in March, as falling pork and fruit prices offset rising vegetable prices.

A research report from the Bank of Communications forecast that the years' average CPI may decline to 3.3 percent from 5.4 percent in 2011.

Inflationary pressure may ease in the first three quarters, while rebounding slightly in the last quarter of this year, the report said.

"Inflation is set to trend down further, which provides ample room for additional policy easing, including both a quicker pace of fiscal spending and a more supportive credit policy," said Sun Junwei, a Chinese economist with HSBC Holdings.

Meanwhile, the world's second-largest economy witnessed industrial production growth of 9.3 percent last month — the lowest in three years — while retail sales growth slowed to 14.1 percent year-on-year from 15.2 percent in March.

Electricity production, an indicator of the industrial manufacturing sector, increased at its slowest pace since May 2009, rising 0.7 percent from a year earlier to 371.8 billion kilowatt-hours.

Duncan Freeman, research fellow at the Brussels Institute of Contemporary China Studies, said the slowdown in China's economy is partly related to its domestic situation and largely connected with the problems in its main markets — the United States and Europe.

China's economy sees more contraction in April - The China Post

What has a contraction to affect China?

That adds to the rosiness?

 

[Ray]

Rich Chinese, expats rent wombs as surrogate mothers rake in cash

Rich Chinese, expats rent wombs as surrogate mothers rake in cash - The China Post

***********

Note how happy they are having second hand babies!

 

[Ray]

Credibility risks loom as Beijing orders Big Four auditors to go local
WASHINGTON -- China and the world's largest audit firms face credibility risks under an order Beijing issued saying the firms must hire more Chinese citizens to manage operations there, analysts said.

Thursday's order follows a string of accounting scandals at Chinese companies listed on U.S. stock markets and amid broader questions about China's willingness and ability to conform with international business standards and rules.

As the world's second-largest economy, China has enterprises with global ambitions, but markets often question the accountability and transparency of these businesses. The new government order will do little to alleviate that skepticism.

China's Ministry of Finance announced the audit industry's so-called Big Four — PricewaterhouseCoopers, Ernst & Young, KPMG and Deloitte — must begin to hand over the reins of their Chinese practices to its citizens and accountants.

PricewaterhouseCoopers said it supports the programs and has been "localizing its China practice." Ernst & Young said the new order is "in line with E&Y's existing strategy." KPMG and Deloitte could not immediately be reached for comment.

The China operations of the four firms are now led largely by expatriates. The Chinese order caps at 40 percent the number of foreign-qualified partners a Chinese Big Four affiliate may have as of August, and at 20 percent by 2017. The rules also say each of the Big Four's senior partners eventually must be Chinese citizens. All now are foreigners.

For the firms, finding enough qualified Chinese accountants to do the work will be a challenge in the short term, but not an insurmountable one over time, auditing industry analysts said.

In the long term, depending on the smoothness of the transition and the behavior of Chinese partners who take over, Chinese audits could be further called into question, they said.

"If the changes lead to greater turnover among partners, or a wholesale replacement of leadership by the local partners, there is risk that audit quality would be affected," said Paul Gillis, professor of accounting at Peking University.

The Big Four firms have their main offices in the United States. Like most multinational businesses, the firms over the years have transferred control of overseas affiliates to local citizens, which is cheaper and, in some ways more efficient than maintaining a staff of costly expatriates in a foreign country.

That transition has been on track to occur in China, as well, but the government order is an attempt to make that happen faster, perhaps too fast, said Tom Selling, publisher of The Accounting Onion, a website on accounting issues.

Investors in U.S.-listed Chinese companies have been burned by a recent string of accounting scandals.

On Wednesday, U.S. securities regulators charged Deloitte's China practice for refusing to provide audit work papers related to a U.S-listed Chinese company under investigation for accounting fraud.

The Big Four dominate China's accounting industry. In 2010, their audit practices, excluding their consultancy businesses, had combined revenue of more than 9.5 billion yuan (US$1.5 billion), according to the Chinese Institute of CPAs (CICPA).

Including consulting, the four firms say they each employ around 10,000 people in mainland China, Hong Kong and Taiwan.

Credibility risks loom as Beijing orders Big Four auditors to go local - The China Post

Get more Chinese into the audit firm so that the Communist Chinese Govt can do mind control and brush the unpleasant under the carpet and show how Rosy China is!

 

[Satybharat]

actually what took me by surprise the most is how bad the current indian economy is.......as indian economy is so called domestic comsumption oriented coz they cant export too much stuff others need so i used to think like many who tended to believe that the indian economy should be somewhat immune to the uropean dept crisis but the quater figures just turned out really illustrate something the other way around......

i can understand that the oil price is going up while rupee is going down due to a range of serious problems that actually took their roots years back so this may cause some problems but why the situation is so dim is really beyound my understanding.......and some now even talking about letting indonesia replace India in the BRICs:

Will Indonesia replace India in the BRICs? - Business News - IBNLive

China hides most of its failure so you would never know.....

 

[arkem8]

Short story/script involving chuxia, chini-cir, chini junk no.20, chini nimo and other assorted 50 cent shit youth.

.....In a smelly basement somewhere in Chengdu...

Chinese Internet Propaganda Department Municipal Building public no.17

Chini boss/ Farticle coordinator/ CCP card carrying member (he is the guy that co-ordinated the above shit youth and pays them ~50 cents for a good post-one that served to re-educate the Yinduo) from now one we will refer to this filthy degenerate creature as CCP(Ch@#$%ya Chini Pautiwala)....

CCP: Okay you little c@#$s, just like yesterday we do a roll call...
Cir!
Cir: Chinaman here!!
CCP: Junk-20!!
Junk-20: Chinaman reporting to sacred duty!!
CCP: Chuxia!
Chuxia: Shit youth ready for keyboard activities!!
CCP: Nimo!!

no one answers...
CCPangrily..)Where the f@ck is that homo...

Junk-no20: (quietly)LOL!!probably getting his ass pwned by a drunk somewhere in a dark alley after being mistaken for a female.

CCP:What was that??
Junk-no20: nothing, just clearing my throat...

CCP: That bytch is late again, does he really want the 50c voucher, China is a poor country, I could find another teenage idiot how will work for 35c....

the other 50c Chinamen silently curse nimo for being late and endangering their precious jobs....

LOL!! Like if you want me to continue...

 

[huaxia rox]

China hides most of its failure so you would never know.....

yes ..... CIA doesnt know that......experts in wsj dont know that..........and indians happen to know all the failures prc hides........

 

[Satybharat]

yes ..... CIA doesnt know that......experts in wsj dont know that..........and indians happen to know all the failures prc hides........

Indian also dont know....most of the International news agencies are banned in CHina.....