China's prosperity anxiety

Its newfound wealth brings worries about the high cost of housing, conspicuous consumption and a growing generation gap.Its newfound wealth brings worries about the high cost of housing, conspicuous consumption and a growing generation gap. Full Story »

Posted by Jon Mitchell - via Thanh Tran (t), Thanh Tran (f)
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Subjects: World, Business, Living
Topics: Asia, China, Housing, Money, Jobs
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Posted by: Posted by Jon Mitchell - Sep 30, 2010 - 11:14 AM PDT
Content Type: Article
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Edited by: Jon Mitchell - Sep 30, 2010 - 11:14 AM PDT

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Jon Mitchell
3.8
by Jon Mitchell - Sep. 30, 2010

Interesting assessment of the new economic reality in China, and how it has affected government, business, and culture.

See Full Review » (11 answers)
Jack Dinkmeyer
3.3
by Jack Dinkmeyer - Sep. 30, 2010

Interesting article about how Wal Mart money and all those jobs formerly held by American union members are affecting China’s economy and social order. It’s the usual way countries join the modern age: prices are becoming outrageous. Salaries are following. A new class of youth is growing up thinking they deserve it all, instantly. And the materialism of conspicuous consumption rules the land. Soon corporations will have to out-source jobs from China.

As poor countries are pumped up by money and manufacturing from industrialized countries trying to save a buck, their economies and social orders soon reach parity with industrialized countries, who are then forced by high wages and outrageous pricing to move on to poorer, backward countries with wages and economies in the toilet. It happened in Europe after the war when watches costing $300 in the U.S. were $50 in Switzerland. Same with Japan, which produced much higher quality ... More »

See Full Review » (19 answers)

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