China defies global economy trend

World Bank figures have given China a double-digit growth in the last quarter of 2009 - 10.7 per cent to be precise - which puts it on course to overtake Japan as the second-largest economy in the world, after the US.

Mansoor Dailami, the manager of international finance in the World Bank's development economics branch, told Al Jazeera: "China's economy has been growing very rapidly since the end of the recession.

"But the problem is that the country has a huge population with significant diversity between different regions but they still have a long way to go to catch up with the more advanced countries."

Dailami said: "Basically, 2010 is going to be a year of economic recovery compared to 2009 yet there are some concerns in regards to the pace and dynamism of this recovery and what it takes for things to continue moving forward from 2010 into 2011."

However, China's large population means there are still millions of people who are not experiencing the positive effects of their country's economic boom.

Al Jazeera's Melissa Chan reports.

Jan 21, 2010

Category:

News & Politics

Tags:

• world bank
• china
• melissa chan
• asia-pacificnews
• aljazeera
• al jazeera
• economy
• financial crisis

[lukebccb]

Wow all these "professional" "economists" must have missed some important points in Economics 101: China has the high near double-digit economic growth because China is going thru the "transformative" stage of industrialization where her populace is being changed from rural farmers to urban industrial (and poorly paid) workers.

EVERY nation that goes thru the "transformative" stage experiences explosive growth: Korea, Japan, Western Europe, America EVEN THE SOVIET UNION... ALL did.

(cont.)

[fartherasia]

@guanchen.. yep. indeed. i would be much comfortable with china being the world power than the west. aside from the fact that the west are greedy, they are controlled by jews whom are great manipulators. I pity Gaza.

[giriisindahouse]

@lukebccb the Chinese can argue that its harder to manage a larger population and in this case, a much much larger population and grow the economy in a huge scale. Countries like Singapore or Switzerland will obviously have it easier to develop their country than, say, US. But China has 3 times more people than US. It is like managing a big firm compared to a small firm and how much harder it is. In that sense, we must respect China's growth and their growing dominance of the world.

[misorism]

@meowlittlesweetkitty I think you are retarded...

[misorism]

@fartherasia What is wrong with you? You have probably never even been to the west, and controlled by Jews? What does the even mean? You are being very steryotypical, and the Chinese are going to fall just like the Soviets did, Communism does not work, it may work in the short run, but in the long run they will fall all over themselves.

[lukebccb]

@vPanya: Colonialization began during the transformative stage. Must remember the industrialization of Britain took over a longer period than say in Korea or Taiwan or even Japan. Britain began her "industrial revolution" around the turn of the 19th Century and it spread to Western Europe around a generation later.

It was during this "tranformation" of Britain/Western Europe that the colonialization policies began as the technologies of the revolution allowed for colonial expansion.

[AquariusWithin]

@lukebccb you are correct, yet everyone seems to have short-term memory about the basic facts. economics 101.

[dddmartin1]

"I CAN'T SAY THAT I LOST MY JOB, I KNOW WHERE IT IS

THERE'S AN ASS-HOLE IN CHINA WHO THINKS THAT IT'S HIS"

from the mears brothers song "factory town" check it out on youtube!!!

[Don1772]

Every time I see a youtube video in relation to "China". I always see argument about china in just about everything!!! Government, Economics, Policies, Military, Human Rights, and etc. It’s the talk of the century! :D

[prepschoolkid]

@meowlittlesweetkitty Well all the indicators point to Americans having a higher standard of living than Chinese, of course there are Chinese who are better of than American, vice versa. There will always be people above and below the average. For example Haiti is a dirt poor country, but there are a few Haitians who are incredibly wealthy. There will always be outliers.

[prepschoolkid]

@meowlittlesweetkitty And I'm not fat, you haven't even come up with facts and figures to support your argument that China is richer than the US. You're the one with shitty arguments since you're resorting to name calling. Of course the US is in debt to foreign country, but most developed countries have looming debt issues too.