The crisis is currently ruling the world and everyone is just trying to survive. So what does China do? Amidst the global recession China’s economy is still growing. And growing good!
The experts predict that the growth will reach the 8 % mark in 2009. That is hell of a lot higher if we compare this, for example, with the prognosis of USA (1-1.5 %). Still experts warn that China is not completely out of the woods yet and there are a lot of problem that have to be solved. Largely this economic growth is contributed thanks to the huge government economy stimulus plan which was launched in the autumn of 2008 (585bn dollars). Hell a lot of money, but apparently it worked. Most of China’s experts warn that the growth is not stable and it would be much too soon to speak about a full recovery of China. Although the firmaments of recovery are still considered unstable and weak the average income has increased by approximately 10 %. And in general that is a good sign for the population. While that may be a good thing people are still afraid to spend more money and consumer level of China is still decreasing. Not by much, but still it is decreasing.
Export has suffered a significant decrease compared to the previous year. China is exporting approximately one fifth less than last year. Many workers in the export sector have lost their jobs, but thanks to the plan launched by the government did not fell into unemployment. Various government infrastructure projects provided numerous jobs for the laid off workers. This is an admirable achievement for the government. The export levels still remain low due to the overall economic situation in the world. Sadly China’s economic recovery is not enough to pull the whole world out of recession due to the fact that China is not a major importer.
So good news for China! Yeah, but how does it benefit me, my country is still tumbling down the rabbit hole? The deliberation is very simple – if China can do it then we also can. Just don’t give up.
