Wouldn't it be cool if they could leap technologies too - picture a boom and cheapening in world wide sustainable agriculture and cheaper sources of energy with more efficient products to utilize it with.
from NY Times
Corporate executives from cities across China said in interviews last week at the Canton Fair in Guangzhou and the Global Sources consumer electronics show in Hong Kong that while layoffs were rising, joblessness did not yet appear to be a serious problem.
Many laid-off migrant workers in export-reliant regions like Guangdong province, next to Hong Kong, have returned to their home villages, because high food prices have made farming more remunerative. Others are finding jobs in inland cities that depend more on consumer demand within China.
Workers are not yet lining up outside factory gates in search of work, as they did a decade ago. But they are nonetheless becoming easier to find and hire, said Bill Chen, a sales manager at the Tinly Jieyang Electro-Acoustic Devices Company, which makes automotive stereo speakers in Shenzhen that recently halved its work force to 100 employees.
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With less to fear from rising prices, China’s central bank has already begun reducing regulated interest rates and loosening restrictions on bank lending, even though these steps could result in an expansion of the money supply and an increase in inflationary pressures. With the government running a large budget surplus, the finance ministry has begun lowering taxes on stock market transactions.
“We expect the Chinese government to continue to loosen policies on the back of fast-slowing activity growth and dissipating inflationary pressures,” said Hong Liang, an economist in the Beijing office of Goldman Sachs, in a research note late Monday morning.
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