LalTopi
Regular Member
- Joined
- Mar 28, 2012
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I'm case you had not noticed all this China manufactuing is shifting over to India, Vietnam etc. Manufacturing is actually low hanging fruit which follows where labour is cheapest and governments friendly. So India will in the medium to long term get much of China's manufacturing, yet on the other hand India already has well developed service sectors such as IT, medicine, etc. Service sectors which China's politicians are desporatly trying to develop to replace the over exposed manufacturing sector. China is heavily exposed to manufactured exports which other countries can now produce cheaper, hence it needs to move to a higher domestic consumption and services sector model. Read the earlier post by your compatriot @t_co.most of CHina's GDP is manufacturing,mining,construction and farming,which is decisive sector to measure one country's economy might.
that is why auto sale,concrete sale,house sale and almost all sales(even film sale) in CHina has surpasssed those in USA while CHina's nominal GDP is only 60% of USA's
China is desparate to rebalance its economy without the whole country collapsing in the transition. But as the recent stock market crash demonstrated, even your own domestic investors are scared shitless at the risks.