China's economy is rapidly changing. While in the past many of the rural population found reason to immigrate to large coastal cities, a growing trend is to encourage the population to stay put in their home province. This is exactly the case with Jintang, a province located near the Hong Kong region. While in the past upwards of 70% of their migrating population were leaving the province, for the first time in decades over half of the migrating population is remaining within. This is due in large part to Foxconn, a large Taiwanese manufacturing firm, that is expecting the need for over 500,000 staff in the coming years (projected within 5 years). This new trend of staying in one's hometown reflects a maturation of China's economy. The gap between coastal and inland economies is rapidly narrowing, and inlanders are beginning to enjoy some of the government welfare benefits previously only made available to urban dwellers. While this provides a solution to some of China's economic problems, it also creates new questions as well.
I found this interesting because it shows the ever changing economy of China. The economy, though showing signs of slowing, is still booming in areas where growth wasn't occurring before. The article mentioned that in this area the economy grew 15.2% last year alone.
http://www.economist.com/node/21548273
I always find it interesting when China does their fiscal reports. I've read so many articles in the NY Times and LA Times that talk about how they bloat their numbers. I wish we could really know how much their economy is advancing instead of having skewed GDP results. They said one of the biggest problems with China when they report their GDP is that the government spending section is accurate with what they spend, but they often find way to spend that don't carry their economy long term.
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