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 !We are not Chinese who are ashamed of weaknesses being aired so that it is honestly stated and analysed.
I agree with you. The former lags decades behind the other. It is truly unfair to compare China with India.A domestic economy competing with export based economy, it happens only in Alex Frangos's books.
Such a emotional Chinese you are just like others ... can't control emotions and words.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.
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.Reality hurts. Dosnt it?
Yes I am. We are a participatory democracy you see. People vote their choices instead of waiting to obey communist masters.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.
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.If you think that fantasy and propaganda can bring a nation that far, then you must be living in a bubble world.
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......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?
What has a contraction to affect China?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
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!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
China hides most of its failure so you would never know.....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
yes ..... CIA doesnt know that......experts in wsj dont know that..........and indians happen to know all the failures prc hides........China hides most of its failure so you would never know.....
Indian also dont know....most of the International news agencies are banned in CHina.....yes ..... CIA doesnt know that......experts in wsj dont know that..........and indians happen to know all the failures prc hides........