A Panel Discussion on China’s Economy – Part 1/2

In 2008, Al Jazeera broadcast a program about China celebrating three decades of market-oriented reforms with a look at how the global financial crisis was affecting the world’s second-largest economy.

At the time, average annual income was almost $3,000 compared to $55 dollars in 1978, when Deng Xiaoping launched the economic reforms that transformed China.

The Al Jazeera commentator introduced the panel of experts.

Andrew Leung was a FMR Hong Kong Government Official, who said that China, unlike other countries, must produce twenty million new jobs a year just to stay even. He then explained that China’s huge stimulus package on infrastructure development was the only way China was going to put people back to work during the global economic crises.

Then the Al Jazeera commentator introduced Ze Xia, as a Chinese journalist working for New Tang Dynasty TV in America.

NOTE: Al Jazeera does not say that New Tang Dynasty TV is part of the Falun Gong religious cult that has been banned in China.  Before the commentator cut her off, Ze Xia managed to criticize China’s on several issues.

The commentator quickly cut to Bruce Reynolds at the University of Virginia, who was a former editor of The China Economic Review

Reynolds countered the Falun Gong reporter’s tirade by saying we are only talking about a labor force of perhaps 100 to 140 million workers in export-oriented factories along the seacoast.

He then said that China’s entire labor force was more like 700 million and the export sector was only one part of China’s economy. Those workers who lost their jobs will migrate back to the rural areas they came from.

Andrew Leung agreed with Reynolds and predicted that it would take a year or so for China to smooth out the impact of the global economic crises.

The camera did not return to Ze Xia, the Falun Gong reporter.

Visit China Economy Watch for up-to-date information on China.

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Lloyd Lofthouse is the award-winning author of the concubine saga, My Splendid Concubine & Our Hart. When you love a Chinese woman, you marry her family and culture too. 

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