I am doing a project of China's economy, and currently having difficulties.
I don't trust Wikipedia, and various other websites don't give me the right information and summary to help me understand China's economy|||I think the secret of China are stated in the followings.
1) Chinese workers are far better than those Hong Kongers, cheaper and better human assembling skills in production, in electronic products, garment manufacturing. And almost 95% total Hong Kong manufacturers are relocated to China in the past ten years.
2) The production workers are much cheaper than those Hong Kong workers. For instance, those production workers are happy to make less than 1,000 yuans a month in comparison of minimum HK $ 5,000 per month. It is measured at about three or four years ago which the exchange rate was HK dollar was slightly higher than the yuans. My uncle has made four millions dollars by running a knitting manufacturer for five consecutive years in 1980 in mainland. He immigrated to Canada about 1993 and paid cash for a single house and a high rise flat in Toronto.
3) China is the land of opportunity for investors. Unlike Hong Kong, the SAR (region for special administration) with high living standards, extra high land prices. My uncle bought the land in Dongguan and build a factory with less than $ 100k yuans and hired more than one hundred workers with monthly salary of average about 500 yauns per month. It was 80%-90% cheaper than HK by that time. My uncle was laughing to the banks every month and collected the profits he made in China. He was just take over his friend's failed knitting factory in Hong Kong and was in debt of HK $ 2 millions. He bought and whole factory's outdated machinery for less than HK $ 100k and hired two of their supervisors and paid them each of HK $10 k per month.
I think the reasons of why China is the best in production and earned the name of Factory of the World.
Hong Kong seems would go collapse in the next five years because the highest paid civil servants and top officials in this world, and the real estate prices are outrageous. Hong Kong is trying to enrich its government income laundering stock market investment to attract international investors to gamble in this international capital scams of stock shares and real estate transactions. China is doing okay now regardless the whole world is still in trouble, such US and Hong Kong are experiencing of the twin evil of stagflation of higher inflation and higher unemployment.
You should trust Wikipedia, your teacher, lecturor, or professor are probably referred to the international website to mark the papers. I think you should look into such as Simmon's World that criticize Hong Kong a lot or the followings.
http://search.yahoo.com/search?p=The%20C鈥?/a>
http://search.yahoo.com/search?p=The%20C鈥?/a>|||It's a good place to get a job since nobodys hiring here anymore.|||https://www.cia.gov/library/publications鈥?/a>
Google scholar is not a bad place to look either.
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