hina’s GDP grew 8.9% in Q3, which tops the world village (See Graph Here). However, the government officials and economists still remain cautious on the future growth of the economy (See Article from Time). According to Premier Wen Jiabao, the recovery is vulnerable to further correction. According to the pessimistic economists, the green shots in Q2 and Q3 are largely due to the stimulus program and quantitative ease. Once the liquidity loosening slows down, there is a great risk that economy will follow suit. Given a long term perspective, China still needs to address the imbalance between investment and consumption, and export and high saving rate. Seems that there is a long way ahead, but, so far so good.

时代杂志撰文指出，中国国民生产总值在第三季度增长8.9可喜可贺，离全年增长8%的目标又更近一步。但是许多相关人士包括中央政府官员都对经济复苏表达了谨慎的观点。毕竟目前全球出口市场前景还不明朗，美欧的复苏也需要时间来确认，而且中国经济在银行贷款慢下来之后是否还能继续目前的增长势头都还是未知数。

80% of World’s Christmas gifts are made in China. As such you can imagine how busy the container lines would be during the Christmas season. China goods are cheap in big volume, and justifies the transportation cost from Huangpu or Shanghai to every corner of the planet. The hidden cost of those gifts, however, might not be as simple as it appears to be (See Article from Guardian). First is the environmental cost: to produce such volume of Christmas gifts a lot of hazardous chemical are being used ni China, while such chemical will be banned in Europe or US. Second is labor condition including child labor. It is reported that some factories in South China employs child labor below 18 to do the factory work. Personally I think the environment concern is valid but I believe that child labor is not prevalent and only exceptional case in China. However it is still wrong and even one such case could get people excited and disgusted. On the other hand, howver, it seems the only way for middle or low incomers in the west to enjoy a pleasant Christmas with affordable gifts to their kids. Without China’s bumper supply, kids in the West might have to go through a Christmas without gifts.

每年的圣诞节都是中国出口的高峰期。全世界大约80%的圣诞礼物是中国制造。中国低廉的劳动力和制造成本成就了全世界成千上万家庭和孩子的圣诞气氛，但是这之中也有成本。比如环境污染和劳工待遇就是最典型的问题。如何改善中国制造地区的环境，以及提高劳工受保护的程度同时禁止童工雇佣，是中国制造和出口行业的一大课题。

For the first time in the last 300 years, it matters What Chinese are thinking, particularly to Americans. Such is the biggest shift that Americans will have to accept with a healthy and positive attitude in reality. The rise of the power in the East, mainly backed up by its dazzling economy growth, results in a complex response from Westerners. Amazed and probably concerned as well, Westerners are puzzled by the momentum of China with an opague look in terms of its politic regime, leadership selection and legal setup. I see such concern totally unnecessary. First a stable and wealthy China benefits the whole planet as this country hosts almost one-fifth of the world population. Neighbouring countries only need to worry when China starts to show any unstable sign or lack of growth, which might lead to hundreds of territoral unrests. Second, Communist Chinese government has been proved to be one of the most peace loving government in the world. Chinese government military agression is even milder than that of Vietnam or Philippines, let alone Japan or Russia. Read the rest of this entry »

The sentiment of Westerners towards China and Chinese is complicated: there are appreciation as well as despise, there are thankfulness as well as jealousy, and there are worship as well as fear. In the latest economic recession that unfolded from end of ’07, China has impressed the world by taking affirmative steps to stablize the domestic economy, export, FX and Foreign Reserve. Clearly such a bad time for most Wester powers becomes a golden age for China to narrow the gap from economic, political and culture perspectives in an unexpected way. However, the more spotlight China obtains, the more resistence Chinese might find in other parts of the world, particularly the world’s biggest power, USA. A recent example is Obama administration’s stubborn reaction to continue a trade battle with China exports, despite that fact that America is going through one of the worst economic downturn since WWII and a free market for international trade is badly needed. Read the rest of this entry »