Word: hangxiao
(lookup in dictionary)
(lookup stats)
Dates: during 2004-2004
Sort By: most recent first
(reverse)
...Think of Hangxiao Steel Structure Co. as a scout on China's economic front line. Its 200 workers in Anhui province rivet together prefabricated structures for factory assembly lines, which churn out goods for stores like Wal-Mart. A year ago business was so brisk that the company imported 70 workers from distant Shandong province to keep up with demand. But the mainland's torrid investment in everything from automobile plants to office high-rises to railroads has boosted the price the company pays for its main raw material, steel, by 24% in just four months. Yet the company hasn...
...cutthroat competition among China's manufacturers has kept prices in check so far, it may not be long before foreign consumers are forced to cover the increased cost of raw materials-meaning higher prices for exported refrigerators, DVD players and a wide range of other products. Says Wang of Hangxiao Steel: "As soon as we can, we'll pass the increases on to our buyers." Morgan Stanley's Xie predicts that "at least in the short term, the world could see global inflation because of what's happening in China." The unhappy knock-on effect: to keep inflation under control...
...Beijing has ordered the country's banks to lend less to overheated sectors, including steel, cement and aluminum, and earlier this month dispatched inspection teams to seven provinces to ensure its dictates are heeded. Will it work? In Anhui, Hangxiao Steel recently increased its savings in case loans dry up. That's a good sign: if companies start borrowing less, growth might moderate to a more sustainable pace. From New York to Tokyo, savvy economists will do well to keep a watchful eye on places like Anhui. Now that China is at the heart of the global economy, the future...
| 1 |