Friday, July 30, 2010

Hong Kong Harbor and The Exploding Economy of China

I am struck by these gorgeous shots of Hong Kong Harbor. To consider China's exponential growth over the past 30 years is daunting. Going forward, China's potential on the world scene is awesome.

Thomas Freidman: "A simple rule of investing: never short a country with $2. trillion in foreign currency reserves. Ten years ago China had a lot of bridges and roads to nowhere. Well, many of them are now connected. China is also on a crash program of building subways in major cities and high speed trains to interconnect them. China now has 400 million Internet users and 200 million on broadband. America has 80 million broadband users. Now take all this infrastructure and mix in together with 27 million students in technical colleges and universities - the most in the world. Equally important, more and more Chinese students educated abroad are returning home to start and work new businesses."

China is the world's fastest growing economy, growing at a pace of 10% a year for the past 30 years. It is the second largest economy in the world next to the U. S., worth $8.77 trillion in purchasing power parity. China's gross domestic product stands at $3.4 trillion, making it the world's third largest economy as measured by GDP.

Though certainly not without it's own set of problems and challenges, China's influence in the world is now enormous. In addition to it's beautiful harbor, hopefully this waking giant of a nation is getting America's undivided attention.

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