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Strategies & Market Trends : 2026 TeoTwawKi ... 2032 Darkest Interregnum
GLD 374.27-0.2%Nov 21 4:00 PM EST
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To: Snowshoe who wrote (56756)11/1/2009 5:36:42 PM
From: Snowshoe  Read Replies (1) of 217993
 
Cycling in Chinese city is anything but leisurely
news.yahoo.com

When the economy began stumbling last year, some of the earliest signs of trouble in this industrial southern city were on the roads. On my early morning rides, I noticed far fewer migrant workers pedaling to work in their yellow hard hats with shovels and toolboxes strapped to their rusty, squeaky black bikes. Many had been laid off and returned to the countryside.

Although officials were denying reports of a wave of factory closures, I was finishing my rides much faster because I didn't have to weave through the pedaling multitudes. Assembly lines were shutting down and millions of migrant workers were going back to the countryside.

Those throngs are an iconic image for China, but it's becoming outdated. Led by a swelling middle class, people in Guangzhou and other cities are ditching bikes for clean, new subway trains.

And cars.

Two years ago, Guangzhou proudly announced that the number of cars on its roads had reached 1 million. The metropolis of 10 million people has several auto factories, and aspires to be China's Detroit. Last year, 180,000 new vehicles hit the city's roads, the government said. That's nearly 500 a day.
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