China’s Economy Starts To Grow Up

June 22, 2010

China did its consumers a big favor yesterday by allowing its currency to appreciate against the dollar for the first time in two years. Having also tolerated a recent wave of strikes that pushed some wages sharply higher, the Beijing government finally seems to be ready to do some economic growing up. This is good news for us as well as for the Chinese. Over the past three decades, a …

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Meet China’s ‘Ant Tribe’

March 1, 2010

China’s economic growth may hit 9 percent this year, but Guan Jian, profiled recently by the Los Angeles Times, is not feeling the benefits of his country’s rapidly expanding economy. Guan, 24, is a member of China’s “Ant Tribe.” Given their nickname by a recent book documenting their struggles, China’s estimated 3 million “ants” are young adults who have college degrees but remain unemployed or underemployed. Guan and his cohorts …

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