5 July, 2005

the coming collapse… (iv)

Lisa points out an LA Times item on a slowdown in Dongguan.:

Is it the natural maturation of an industrial region, or signs of trouble ahead for China’s economic miracle? The Los Angeles Times reports today on the slow-down of growth in Dongguan, where thousands of foreign businessmen, mostly Taiwanese, had helped to create a Pearl River manufacturing export powerhouse:

This
year Dongguan’s minimum wage jumped more than 27%. Even with the
increase, employers are struggling with worker shortages. Government
inspectors are making the rounds at factories, enforcing work-hour
rules and pension contributions that officials paid little attention to
in the past. Electricity is in short supply, as is fuel.

These conditions, along with rising tensions with the West and Japan,
have led many Taiwanese businessmen to invest instead in places like
Vietnam.Moreover:  After four years of booming growth,
foreign direct investments into China have flattened this year. That
signals the waning of massive capital inflows, particularly in the
electronics sector, that followed China’s ascension to the World Trade
Organization in 2001.

by @ 3:20 pm. Filed under China, Asia, Coming collapse, East Asia, Economy, Northeast Asia

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