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March 18, 2009
China’s troubled economy ripples across the globe

The World Bank said China’s gross domestic product would grow only by 6.5 percent this year, the second time it has lowered its forecast since November.

Daniel Rosen of the Rhodium Group and the Peterson Institute for International Economics discusses the significance of the slowdown for China and for other troubled economies — like the United States — who are looking to China to help alleviate financial turmoil.

Read more from David Dollar, the World Bank’s country director for China and a Worldfocus contributing blogger: Reading tea leaves for signs of China’s economic recovery.

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China’s problems are obvious.The government is on the wrong side of the world——competing against private enterprises, grudging spending on education, medicare and social security. Therefore domestic consumption is really low. The country relies on government investment to drive the economy. It would result in big inflation and huge NPLs in the banking system.


China is a big player. Its future is affecting our future in many seen and unseen ways.

The fact that the fortune of every individual, not only of this earth, but also of the entire cosmos, has been wreathed together will have to be admitted one day by humanity.


Excellent program. The more we learn about the interdependence and interrelationship between countries and geographical areas, the better prepared we are to come up with workable solutions.
I guess China is like an AIG, i.e., too big to fail. I think another lesson to learn is that smaller actors on the world stage are too small to fail! All the parts of the human civilization are important. An entity bay be an elephant or an ant, but the all are important it may be known and may not be not known.

Maybe the socio-economic lesson to learn here is (globalize humanity – localize the economy). This is a lesson to be learned. The obstacles emanating from the imbalances in society will teach us as we over come these obstacles on a path toward a civilization worthy of the name.

Like biological ecology, the macro-ecology is nothing more than the resultant of our collective activity. As our collective activity becomes based on universal ideas and compassion based on heart and knowledge, then our children’s children can develop their innate potentials without have their talents nipped in the bud.

Two soaring birds of prey like the China and USA economy could become locked in their talons and the downward spiral would bring all of us to our knees. World depression of the 21st Century would be a horror that would have our children’s children cursing us for a thousand years. Unfortunately, we built our houses too large on the backs of the rain forest and our bankers became too fat on the blood of the general population. If we cannot learn by looking, we will have to learn by experiencing. I am optimistic, however, that a new day is coming.

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