Do you think the economy is getting better?
Economic growth in Dongguan, an export hub in southern China, will fall well short of the local government’s 10 percent target, its top leader said in comments reported yesterday.
Liu Zhigeng, Party chief of Dongguan, said he expected the city’s growth this year would wind up in the 5 to 6 percent range, or about half the pace the government was shooting for.
A collapse in exports caused by the global financial crisis dealt Dongguan a heavy below and Liu said the city had reason to hold its head high.
“In the first 10 months of this year, Dongguan’s gross domestic product grew 3.8 percent. This was not easy. The most difficult time is behind us and once we get through this year, Dongguan will again achieve fast growth next year,” he said in comments published by the Guangzhou Daily.
Some firms in Dongguan and other parts of China’s manufacturing heartland in the Pear River Delta have reported labor shortages in recent weeks as they ramp up production to meet Christmas rush orders.
It is hard to say at the moment, which depends on the stock market. A panic on the stock market is just the same as the bank runs. Who can eliminate the panic, who win!