Hitting the Kerb; China's Economy  

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Jenis: Article from Bulletin/Magazine
Dalam koleksi: The Economist (http://search.proquest.com/) vol. 401 no. 8756 (Oct. 2011), page 79-80.
Topik: Small & Medium Sized Enterprises-SME; Entrepreneurs; Business Conditions; Finance; Economic Crisis
Fulltext: Hitting The Kerb.pdf (43.03KB)

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Perpustakaan Pusat (Semanggi) Nomor Panggil: EE29.68 Non-tandon: 1 (dapat dipinjam: 0) Tandon: tidak ada

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Wenzhou businessmen have contributed enormously to China's economic progress. That success continued in the third quarter, when China's output grew by 9.1% compared with a year earlier. But the threats to growth are mounting, and Wenzhou symbolises one of the dangers. The lending spree that rescued China's economy from the 2008 financial crisis has resulted in inflation, overpriced property markets and souring debts owed especially by local governments. Just as the government was coming to terms with these longstanding problems, two fresher ones have arrived: a slowdown in exports, particularly to Europe, and a worrying spate of bankruptcies among small enterprises, concentrated in cities like Wenzhou. For the scrappy private firms that populate Wenzhou, this year is one of the worst since the reform era began three decades ago, according to Zhou Dewen, who heads an association representing about 2,000 of the city's small and medium-sized enterprises. Wenzhou businessmen have contributed enormously to China's economic progress. That success continued in the third quarter, when China's output grew by 9.1% compared with a year earlier. But the threats to growth are mounting, and Wenzhou symbolises one of the dangers. The lending spree that rescued China's economy from the 2008 financial crisis has resulted in inflation, overpriced property markets and souring debts owed especially by local governments. Just as the government was coming to terms with these longstanding problems, two fresher ones have arrived: a slowdown in exports, particularly to Europe, and a worrying spate of bankruptcies among small enterprises, concentrated in cities like Wenzhou. For the scrappy private firms that populate Wenzhou, this year is one of the worst since the reform era began three decades ago, according to Zhou Dewen, who heads an association representing about 2,000 of the city's small and medium-sized enterprises.

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