China confronts problems of growth
Central planning in China once dictated every investment decision. Now local bureaucrats, reckoning that high growth statistics are their keys to promotion, are pumping funds into manufacturing and construction with barely a thought for the marketability of products or the real level of demand for f...
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| Veröffentlicht in: | Times (London, England : 1788) England : 1788), 2003-09, p.31-31 |
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| 1. Verfasser: | |
| Format: | Artikel |
| Sprache: | eng |
| Online-Zugang: | Volltext |
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| Zusammenfassung: | Central planning in China once dictated every investment decision. Now local bureaucrats, reckoning that high growth statistics are their keys to promotion, are pumping funds into manufacturing and construction with barely a thought for the marketability of products or the real level of demand for forests of new office blocks. The result is galloping overproduction, affecting up to 90% of manufacturing from steel, automobiles, electronics and integrated circuits to textiles and electrolytic aluminium. (Quotes from original text) |
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| ISSN: | 0140-0460 |