December 30, 2005

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China Creating 80 Mn Jobs - Abroad

A rather interesting forecast highlighted in the People's Daily Online today about how China is set to import US$4 trillion over the next five years from abroad. The forecast, by well-known Qinghua University economist Hu Angang, expects that that order of import requirements will create 80 million jobs abroad.

A helpful perspective for people that only believe that China is taking jobs away. Here is the other side of the equation.

Be good for Oz, eh, Simon?

posted by HK Dave on 12.30.05 at 09:13 AM in the China economy category.




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Comments:

The numbers sound rubbery, but it's a good point. As for Oz, the country is already proof of this effect - the mining and agriculture industries are working at full capacity to supply the Chinese as well as Japanese and other customers. They can't dig and grow it fast enough!

I've pointed out in the past to those that fret about the impact of outsourcing and China's trade imbalance - if it's all so bad, why is American unemployment so low?

posted by: Simon on 12.30.05 at 10:10 AM [permalink]

Some would argue Simon that Australia's economic policy is a path to paupacy. Exporting raw materials and importing manufactured and other value-added goods does not sound like a recipe for success. Fortunately I'm not much of a mercantalist so I don't think Australia has anything to fear in exporting its mining and agricultural products.

I hope you had a merry Christmas Simon, though I want to ask if there is any particularly aussie way of celebrating it what with it being summer and all in the land of vegemite sandwhiches. Even after having lived several years in Florida, I'm still not accustomed to yule-tide decorations mixed with palm trees let alone celebrating the holiday during a scorching summer. I take it there are no Santas in dowdy red costumes?

posted by: Jing on 12.30.05 at 11:10 AM [permalink]

Yes, the sun seems to shine a great deal on Australia these days. I still am kicking myself for not buying that Bondi Beach condo 5 years ago!

And do tell of your surfing Santas!

posted by: HK Dave on 12.30.05 at 11:58 AM [permalink]

Jing,

I also don't buy that merchantilist bit.

Xmas in Oz. Typically it's celebrated with BBQs, big lunches, Jewish guys (such as myself) playing golf, watching Poms drink and drown themselves on beaches, that kind of thing. The main events are Boxing Day, when both the Sydney to Hobart Yatch race and the Boxing Day Test cricket match from Melbourne begin.

I'm getting a little teary right now...this is the first Oz Xmas I've missed. And as I said, I'm Jewish.

Talk about confused. And for us Aussies, all this stuff about Xmas being wintery and snowy makes no sense at all. If you were going to organise Xmas, would you stage it in Winter or Summer? I certainly know which way around I prefer.

posted by: Simon on 12.30.05 at 02:04 PM [permalink]




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