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Strategies & Market Trends : Booms, Busts, and Recoveries
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To: tradermike_1999 who started this subject10/23/2003 1:51:37 PM
From: AC Flyer  Read Replies (2) of 74559
 
Here's a little dose of reality. China's job losses in manufacturing have been double the level of losses in other developed countries.

>>Manufacturing employment in the 17 largest economies other than China fell a little more than 7%, from 96 million in 1995 to 89 million in 2002. In contrast, China's fell a whopping 15% in the period, from 98 million in 1995 to 83 million in 2002. Notwithstanding the continuous influx of foreign investment and new employment, China has been unable to escape the drive toward productivity enhancement and the resultant downsizing of the manufacturing workforce. In 2002 alone, although nearly 2 million factory jobs were created, China's manufacturing employment level for the year was below 1998 and far below 1995.<<

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