Economic Recovery Picks Up in China as U.S. Still Ails

[Better Believe It]

Recovery Picks Up in China as U.S. Still Ails
By KEITH BRADSHER
September 17, 2009

WUXI, China — Just eight months ago, thousands of Chinese workers rioted outside factories closed by the global downturn.

Now many of those plants have reopened and are hiring again. Some executives are even struggling to find enough temporary staff to fill Christmas orders.

The image of laid-off workers here returning to jobs stands in sharp contrast to the United States, where even as the economy shows signs of improvement, the unemployment rate continues to march toward double digits.

In China, even the hardest-hit factories — those depending on exports to the United States and Europe — are starting to rehire workers. No one here is talking about a jobless recovery.

“The whole country’s economy is back on track,” said Shi Yingyi, a 34-year-old housewife who joined the throng. “I feel more confident now.”

The confidence stems from China’s three-pronged effort — a combination of stimulus, liberal bank lending and broad government support for exports.

The Chinese central bank said the country’s economy surged at an annualized rate of 14.9 percent in the second quarter. The United States economy shrank at an annual rate of 1 percent in that period.


Models of real estate projects at a fair in Shenyang, China, on Tuesday. Investors' interest in the real estate market is picking up as economic growth returns across the Chinese economy.

Please read the complete article at:

http://www.nytimes.com/2009/09/18/business/global/18yuan.html?_r=2&ref=world&pagewanted=all

[lib2DaBone]

1. Are the elected leaders in China Bought and Paid for by Corporations?

Maybe in China they actually make decisions that benefit the country as a whole... unlike the United States , where our elected officials merely stuff themselves with Corporate cash.