Booms, Busts, and Recoveries Message Board

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Strategies & Market Trends : Booms, Busts, and Recoveries

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To: BubbaFred who wrote (40091)	10/23/2003 11:43:27 PM
From: AC Flyer	Read Replies (1) of 74559

>>That's truly amazing for a third world country, that employment is being sacrificed for high productivity.<< It's more a question of labels, I guess. It's called productivity in the US. In China, it's more that the CCP has been withdrawing support for the inefficient relics of centrally-planned industrial production. This is no secret. But the net result has been significant job losses in Chinese state-owned manufacturing enterprises since 1995 followed more recently by manufacturing job creation in the quasi-private sector. The big picture, though, is the massive leap in global manufacturing efficiency. If the Alliance Capital study is accurate then in seven years (1995-2002) global manufacturing employment declined 11% while output increased 30%. That's 5% annual productivity growth. Sounds about right.

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