why do people keep saying that china's economy is rising?

Question

as far as I know, people are still laboring in factories for two cents an hour. and I actually do know some people, personally, who use factories in china. they totally don't give them a fair cut and told me recently, "you don't realize how desperate they are. they're always more desperate than you." in other words, they totally rip them off because they can and they know they'll cave first. these are asians ripping off their own people, making them work for less and less.

infuriating.

but what is the reasoning behind this saying? I keep hearing it but I don't see it.

Answer 1

This phrase is basically stating that China's Gross Domestic Product (GDP) has been growing at a very quick pace over the past number of years (an average of 8% annually since the late 70s). The GDP is a statistic that is a key indicator to a country's overall economic output. Typically, the more a country produces, the better off it is.

Generally speaking, the aggregate Chinese population is probably better off today than it was prior to the economic boom. Of course, "better off" is a relative term since what may seem to Westerners as a low standard of living, may be the complete opposite from the perspective of someone accustomed to rural and subsistence farming.

Answer 2

Chinas economy is growing rapidly due largely to America. In the late 1990"s , America tore down the trade barriers and set the stage for a tremendous infusion of money, jobs and factories. Many major firms in the USA have developed partnerships with Chinese entrepreneurs enabling China to grow at unprecedented levels. All this was substantially accomplished at the expense of Americans who lost jobs and industries to their Asian counterparts.

China growth is illustrated by the huge increase in factories which produce goods and services in unprecendented numbers. An additional display of their sucess is the trillion dollar reserve they have in US currency. Unfortunately, most Chinese workers are only marginally participating in this dramatic growth. Wage increases have been slow, but job security has been enhanced. This situation is very similar to our own industrial revolution when factory work was plentiful, but wages, benefits and working conditions were abhorrent. The disparity was ultimately solved in the USA with worker strikes, blood shed and unions. A similar scenario will develop in China when the people tire of endless hours, poor pay and lousy working conditions.

Asians are ripping off Asians just as Americans ripped off Americans. The exploitation is occurring in both countries simutaneouly. Americans have lost good paying jobs to their Asian counterparts because China has a much lower wage base, fewer environmental restrictions and government protectionism. Oddly enough, there is a correlation between the two economies. As the China economy is rising, the American economy is declining.

Answer 3

When the newspapers report the economy as "rising", they looked at it from the trading point of view. This means how much number of good have been produced, ordered, delivered, shipped, paid for, assets going into the country, how much the buyers are accruing in debt, cash payments, all that sort of movements only the numbers people monitor and add up.

You are looking at this same economy from the eyes of the people, and you are right, that portion is the last one to benefit , but they will benefit eventually.

Its supposed to be the "trickle own" theory. WHen everybody has been paid, and all the goods sold, the money trickles down to the workers. It sounds bad when explained that way, does'nt it? , but this happens to all the workers of the manufacturing industry,

Answer 4

Because mroe and more money is getting funnelled there. You said ti yourself: people are using factories in China for cheap. This means millions if not billions of labor dollars are going there, which means it's going somewhere, whether or not they're the onesworking for cheap or not. Iti s creating a strong middle class there, and thus...a stronger economy.

Answer 5

Their GNP continues to rise and they are continually exporting more products than ever before. In other words, their industries are booming.

The USA has shifted to a more service-based society and produces fewer products than ever before. We now import those products from abroad and have become much less self-sufficient. There is also unequal trade between the USA and China ... we buy much more from them than they buy from us. This is great for China but not so great for the USA.

Answer 6

Because it is...

Right now... there are two China...
The cities where the money is flowing and technology is progressing at the speed of a rocket.

And the farmers who are still poor and getting poorer as the economy grows. They want to leave their land and go to the city to get their fair share of the pie.
But how do you get one billion people in a city?

The exploitation you talk about is no different to the exploitation of the blacks and mexicans in America.

Answer 7

Don't feel too sorry for these people. I gurantee that working in these factories are better for them than the alternative, or else they would not be there.

Don't worry, as the Chinese become more productive, their wages and therefore their standard of living will rise. PS, this is happening very rapidly.

Answer 8

their economy is rising largely BECAUSE of their cheap labor.

Answer 9

beacause it is rising