Hello Joel, thank you for the response.
The Pearl river delta region is a disaster, hundreds of thousands of factories closing, millions of people laid off…this cannot be denied or covered up. One of the pitfalls of Capitalism and interaction with global economy is the exposure of economy to forces outside your country. This will take pre emptive steps by the the Party to avoid making the situation worse.
The region will need to focus on high tech manufacturing mainly on higher value processes; medical equipment, aerospace, heavy engineering, wafer manufacturing etc., which is occuring and will convert the region from generic manufacturing to high tech. and bring stability.
Another program is the recapitalization and development of Northeastern China. There are large construction projects and complete overhauls of regions that require workers and skilled individuals to complete. This is a large venture that will take decades to complete and set off another wave of investment in China. This will percolate to the delta river region as well and also absorb job losses there.
The Peoples Republic will stay but it will evolve from what it is today to continue managing Chinese economy and future. It will certainly give up power in the coming decade(s) to business and Government…that is a given. What i do not believe is the Communist party will be overthrown or dissolve or be forced to abdicate…China needs to have a group in charge to avoid repeating what occured in Russia; collapse of currency,economy and free for all in the market place.
Chinese people are highly resilient, independant, patriotic and passionate about their Nation. Philosophy in China is an artform, with resurgence of traditional lifestyles that support self sacrafice and the greater good. China’s atrength has always been the individual sacraficing for the greater good, and the ability to call up massive resources when required. This is a huge benifit especially in the bumpy road ahead.
