ShenZhen, a city near Hong Kong was the early Special Economic Zone. Migrant workers flocked there for jobs. At the moment the factory owners are having problems getting workers. While the factories did lay off many, the government started spending U.S. debt they were holding. They started building infrastructure. This has given so many jobs that ShenZhen isnt the most attractive alternative to migrant workers.

12 months ago I counted 61 tall building construction cranes from the roof of my school. Some of them have moved to new patches of land. Its an amazing sight.

While much of the rest of the world struggles out of recession, China has been booming. It built up a lot of credit in the boom times, and spent it in the bust times.

So China should emerge in much better shape that it went in.

A poster from last year:

In 1949 only communism could save China.

In 1989 only China could save communism.

In 2002 only capitalism could save China.

In 2009 only China could save capitalism.


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