The Fed's concern with the slowing global economy, mentioning China in particular, as discussed in its September meeting, will probably still be an issue the remainder of this year. Two recent reports point to the troubles. The Chinese banks are amidst a credit crisis with an increasing loan default rate (http://economictimes.indiatimes.com...as-bad-loans-pile-up/articleshow/49532247.cms). The consumer spending appears to be down too, per expected lower earnings from Alibaba (http://mobile.reuters.com/article/newsOne/idUSKCN0SJ0XM20151025). And $BABA affects stateside $YHOO share prices, as Meyer and staff continue to play with the tax unwinding deal...
They're still developing. give them a decade or so, they'll be outsourcing lower level jobs to the rest of south-east asia. The combined power of a billion-strong workforce cannot be underestimated in my opinion. Their willingness to perform outstandingly for only a modest wage should be a cause for concern amongst all successful westerners.
The problem with a country having so many people as technology develops is that you end up having far more people than jobs. That can end up being a very bad problem for a country.
Well, the good times for the Chinese people couldn't last forever. Many people are rebelling against "cheap Chinese junk" and preferring to buy items made in their own country. Maybe if China cleans up it's act a little, they might get back on track. This is one of the things that I think they need to understand to get back on track. I hope they do not suffer economic hardship, as it seems our economy and some of the rest of the world as well, is tied to theirs.
