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  1. #1
    Senior Member AirborneSapper7's Avatar
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    Economic tremors in the West reach China

    From The Times
    July 21, 2008

    Economic tremors in the West reach China

    Carl Mortished

    A slowdown in the flow of containers through the giant ports of southern China is providing an amber warning light that all is not well in the vast workshops of China's eastern seaboard.

    Container traffic growth in Shenzhen and Shanghai, China's biggest ports, slowed in June as weakening demand took its toll on trans-Pacific trade. Traffic at Shenzhen, the world's fourth-largest port, fell in June by 0.6 per cent from the previous month and grew only 3.5 per cent against the same month last year. Throughput in the first half of the year was up 7 per cent, half the rate of growth last year.

    The slump in traffic to the West Coast of the United States is hitting the massive Yantian container terminal operated by Hutchison Whampoa. It is suffering volume declines for the first time. A majority of Yantian's traffic is from shipping lines servicing routes to North America, where demand has been driven down by the American property slump and dwindling consumption of household consumer goods. It is expected to report a drop in volumes for the first half, having declined for five consecutive months.

    Shanghai's container throughput is slowing, too. Growth in the first half of the year slowed to 10.4 per cent, half last year's rate of increase, and analysts are predicting hard times ahead. “We've seen the peak. Container terminal shipments are now in a downtrend,â€
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  2. #2
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    China power

    Terrible China not doing well, but what the administration is not telling us is that they own over 40 % of our Treasury securities, and if they decide one day to dump them and start buying Euro securities instead, we are in a seriously deep economic hole.
    But amazingly, as I was at Wallyworld about a year ago (read Wal-Mart) I actually found a rolling pin and a pillbox of plastic made in USA. Hooray!
    I have no compassion for people that poison our pets and children (thru bad food and toys) but I am terrified that no one can fix the vurnerability we are now under--including the Saudis.
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