Jan 24, 2008

Chinese Economy is strong, while ours is in the toilet

I find it interesting that the Chinese economy has a fifth straight year of double digit growth..and ours is struggling to stay out of a recession. From the VOA writeup:

The 11.4 percent growth in China's economy last year was the greatest in 13 years.

Xie Fuzhan, the commissioner of the National Bureau of Statistics, announced the annual economic figures in Beijing Thursday.

Xie says the second quarter last year saw the highest growth, of 11.9 percent. That eased to 11.2 percent in the fourth quarter, indicating a modest slowdown.

The government has been trying for the past few years to moderate economic growth. But a number of measures, including several increases in interest rates last year, have failed to make much of an impact on the roaring economy.
Total trade volume rose 23.5 percent, and the already huge trade surplus - which has prompted heated disputes with the United States and the European Union - rose by almost 50 percent to $262 billion.

They can thank NAFTA for at least part of that growth don't ya think?

Edit: It has just been pointed out to me that NAFTA has nothing to do with China(duh North American Free Trade)..but the WTO does, not to mention all the "free trade" bs.

Today's Photo..er..Graphic..ok, Picture.

It's moving day!!!!!!!!!!!!

I have purchased a domain name. I have been meticulously working on a new site,Leftwing Nutjob. Please change your bookmarks people..this puppy will no longer be updated as of July 1st 2011.