Chinese Economy in the news
While searching through websites, newspapers, videos and blogs the most talked about chinese subject in the News was the economy. It is growing at an enormous rate and doesn’t show signs of ending any time soon.
China has overtaken Japan as the second largest economy in the world, First being the U.S.A. The American economy is nearly three times the size of Chinas but analysts see the U.S.A being pushed off the top spot in about a decade.
Their economy is currently estimated to be worth around $5.8 trillion. This ever-growing economy is probably due to China being the worlds largest exporter and second largest importer of goods. It has a sovereign wealth fund of 410 billion dollars. Some of this wealth has recently been invested in an 8.68 percent share in Thames Water. This was China’s first major purchase in the UK and came after Chancellor George Osborne visited the country earlier this year. He wants to see Britain become”the home of Asian investments”.
It comes as a vote of confidence in Britain as a place to invest and do business. This investment is not just a sign of Chinas growing power but it comes at an advantage as Britain is a safe and secure place to invest funds. Although this gives the impression that China is an unstoppable force it is claimed that Chinas economy is beginning to show deep fault lines. These are such things as house prices falling, a slump in export growth and recent high inflations have led some to foresee a looming crash. Although this is predicted Chinese firms are reportedly placing about $1tn to $2tn in direct investments around the world by 2020 and this will double in size every year. They claim they are paying more attention to the structure and health of their economy. Maybe with this added security and care China might just evolve in to the super power everyone expects it to be.
This story is about a two year old Chinese girl who had started walking across a road in a busy market street when she was run over by a white van. People walked past, cyclists weaved around her and then she was run over by a second vehicle. Eventually after being ignored by 18 people and run over twice a street cleaner came to her rescue,picked her up and moved her out of harms way. Sadly she died in hospital as her injuries were too severe.
This news story shocked people from all around the world. Questions were asked about how human beings could possibly be so heartless. Some Chinese citizens blamed it on the govement focusing too much on the economy and neglecting to teach people values and morality. Others suggested it was due to the people in the country chasing after money and loosing their faith and grip on religion. A man wrote on Chinese twitter : “Everyone is praising the rubbish-collecting granny, but isn’t it normal to help someone who is wounded or dying? This just shows how abnormal the moral situation is in this society! The sad Chinese, poor China are we even rescuable?”. It seems even the chinese couldn’t understand the inhumane actions of their own people.
Newspapers tried to come up with a logical explanation by writing that the possible reason for this inhumane act was that there are a lot of high-profile cases in which residents who stopped to assist people in distress were later held responsible for their plight.
I watched a chinese news report on the incident which showed the girl blatantly lying in the middle of the road and was visibly injured. Most of the passers by saw her lying there, she was moving so they knew she was still alive, yet they did nothing to help. What message does this send to other countries about the state of Chinas morality?