China Economic ReviewSteel, the backbone of China’s economic development, has seen unprecedented growth in both production and demand in the last several years. From auto production to construction, steel plays a vital role in the country’s economy. With steel production reaching a total of about 330 million tons in 2005, 30% higher than 2004, the steel industry shows little signs of losing steam.
Taiwan and Japan are at once China’s political thorns and reliable economic allies. North Korea is another story altogether.
It is impossible not to join the exalted ranks of former US Secretary of State Henry Kissinger and China scholar Jonathan Spence in adding praise to the mountains of it heaped on the book’s back cover.
A few difficulties in Guangdong may spell a relocation of low-end manufacturing out of the province, but talk of a Chinese ‘labor shortage’ is far-fetched.
A new class of shares is at last providing a measure of progress in the necessary stock market reforms.