When the central government of China issued an edict about asking permission before a company may lay off 40 employees or more, it should have raised a few eyebrows.
Why would an edict like this be necessary if the GDP (growth) of China is accelerating, like they said it is, at 8%?
Why would you think about protecting your manufacturing base if the world was embarking on a global turnaround?
Why would you get protective when your stock market is up 90% and real estate prices are soaring?
Why would you even entertain a thought of layoffs if banks lent aggressively to anyone who walked through their front door?
Is it possible China embarked on the same path we traveled in reckless lending and spending and sees the same end result?
If that is the case, what’s to become of the rest of the world which has hitched itself to the Great Chinese growth engine?
Till next time,
Bill
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