A Chinese businessman said that 200 million Chinese, are unemployed and economic growth was “just below 4 percent.”
According to the Associated Press the recent economic numbers released by the Chinese Community Party (CCP) regime are suspicious.
China’s fourth quarter GDP growth for 2008 was only 6.8 percent—the lowest growth seen in the past seven years.
Many economists expect that the Chinese yuan will depreciate. However, this depreciation also has drawbacks.
Sir Ka-Shing Li, Chinese billionaire and Chairman of the Cheung Kong (Holdings) Limited, has decided to reduce his property prices again in 2009.
Heated debates on the RMB’s future value have been going on for years.
Because the yuan is controlled by the Chinese regime, not the market, investors have no idea of its true value.
A Chinese government-run media reported that the average useful life of public and residential buildings in Beijing is about 30 years. This is well below the expected life of 50 to 70 years. The statistic puts Beijing high on the list of cities with wasteful construction.
Whether the Chinese RMB will appreciate or depreciate is an important subject.
After posting losses for the eight straight trading days, China's A-Share Market plunged on the final trading day of 2008.