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On January 3, in New Year's message to business, Premier
Wen Jiabao warned: "The first quarter can be quite difficult."
Many of the so-called "economic contribution" phenomena,
which the Chinese Communist Party (CCP) is dependent on, have begun to vanish.
The CCP's safety net begins to fracture too.
Last October, Prof. Lang Xianping at the Chinese University
of Hong Kong, talked in Shenyang about the economy.
He pointed out during his speech, that China's economy
is virtually bankrupt, but this cannot go in the official books.
Prof. Lang said that China's Purchasing Manager Index shows,
that China has entered recession as early as July 2011.
However, all CCP's policies are such that they can cover up
the real ailing situation.
Prof. Lang pointed out during his speech in Shenyang,
that 70% of China's GDP is from infrastructure development.
However, these are not cost-effective. Plus, the real pillar
of China's economy, manufacturing, is now in a crisis too.
He pointed out that many industries in Jiangsu and Zhejiang,
have only 30% to 60% operating rate.
As the industry is sluggish, China's manufacturing industry
is facing closures and strikes.
Since 2008, in Dongguan, the Pearl River Delta, Wenzhou,
Yangtze River Delta, etc., many businesses have closed down.
In Wenzhou alone, from April to October, 2010, over 80
heavily indebted businessmen fled or committed suicides.
Chen Zhifei, economics' professor at New York City Univ.,
pointed out that China's private businesses have a hard time.
Prof. Chen thinks this is due to CCP's preferential policies
to state-owned enterprises and discrimination of private SMEs.
Prof. Chen: "During the economy depression since 2008,
(CCP) vigorously supported the state-owned enterprises.
Although most of them were in deficit or bankruptcy state,
they (CCP) still put money into these industries, as to support their own, private and monopoly party assets.
Regarding the majority of the small and medium enterprises,
the CCP suppressed them, and has policies of discrimination and restrictions on financial assistance."
In the first week of 2012, another round of the strikes' wave
has launched in China.
Sichuan, Guangxi, and Jiangsu had three strikes a day,
each with thousands of people participating.
Last year and the year before, large-scale strikes took place
in many provinces and cities.
These include Guangdong, Beijing, Shanghai, Jiangsu, Gansu,
Chongqing, etc., or wherever there was a plant, was a strike.
Prof. Chen said, for a long time CCP is using cheap labor
to attract foreign investments, playing a disgraceful role.
Prof. Chen: "The Chinese government and the authorities,
and the CCP system as a whole, play a very shameful role.
They are pushing the Chinese people into the fire pit, using
monopolized capital and cheap labor, acting as an evil boss."
Now oppression policies rebound, and prices rise fast,
the labor force demands higher wages and went on strikes.
The changes cause foreign manufacturers to retreat.
Morgan Stanley data shows that over the past 10 years,
Chinese workers' salary grew nearly 12% per year.
As the costs increase rapidly, many companies have begun
to withdraw from China.
NTD reporters Chang Chun, Wu Wei and Wang Mingyu
《神韵》2011世界巡演新亮点
http://www.ShenYunPerformingArts.org/
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CHINA Hotel 30 store built in 15 daysby marku1211,751 views
If china economy collapse then the communist regime might fall with it, then it might be replaced by something more legitimate.
phamman88 1 week ago
They never know Chinese government is playing a big chess with Uncle Sam. The NTDTV is held by some Chinese, but oooh, they are so happy to announce that China will collapse!!!! They called it CCP's economic crisis?????? WTF if it comes true, Chinese people will suffer!!!!! Shame for these producers.
hotelpan 1 week ago
@candakz lol truth be told
sjysong 2 weeks ago
@tubichka Good luck trusting NTDTV, you have a much better chance listening to the voodoo prediction from fox news :)
candakz 1 month ago
China’s fake economy is cracking, cooking GDP numbers revealing, hard landing is inevitable, If not even a collapse.
tubichka 1 month ago in playlist Uploaded videos
Thanks for your great videos.
LoveLifeBeHappy2012 1 month ago