Sure China have big problems, but does China have more problems now or in 1979? If it could go from 1979 to now, it could move on if it adopt the right policies, time will tell.
That is because the Chinese continue to favor coal over clean burning natural gas. They have destroyed a lot of their environment in pursuit of economic growth. I am sure the economists are happy but the ordinary citizens of China may not.
Firstly, you may want to read up into China's strategy, does it really want these low value manufacturing jobs in industries like textiles e.g. T-shirts etc.? No, eventually you have to move past it and/or are forced to move past these sweatshops. China's manufacturing industry is located mostly on the coastal provinces and getting people to move from the inland is becoming harder because they are getting jobs where they are. Take the job to them and you've got your new cheap labor again. They DO have cheap labor and that was my point but it doesn't make sense to move to them. BTW, you also have to consider productivity, the Chinese worker is able to produce more and hence gets paid accordingly, don't just leave that factor out. If anyone needs to do more research its you. Saying that manufacturing jobs are all looking to leave to other countries simply because of rising labor costs is silly, a little more complicated than that. They have a better supply chain, advanced technology, and organization than most countries...and given these factors and relatively still low labor costs, they are going to do quite well for about the next 20 to 30 years.
First I am well aware of China's strategy, it is not a secret. Second my point remains, China is losing manufacturing jobs to a number of countries including Pakistan and Vietnam. You were arrogant and WRONG... And we're called on it... And now days later want to change the argument. Just give it up.
