Chinese are coming up, where do Singaporeans lie? Singaporeans can only judge and look down on others
That s why I hire as many PRC as I can because they have good attitude unlike our youngster fresh grads who don't know anything but want all the perks
Plus they all influenced by Hollywood and all chiak kantang and pinkerton
China boleh!!!
China now 3rd-largest economy
Wed, Jan 14, 2009
Reuters
BEIJING - CHINA on Wednesday revised up the country's gross domestic product growth for 2007 to 13.0 per cent from 11.9 per cent, leapfrogging Germany in the process to become the world's third-largest economy.
The revised growth rate, announced by the National Bureau of Statistics, was the fastest since 1993, when the economy expanded 13.5 per cent.
The statistics office had already updated its estimate of 2007 growth last April from an initial reading of 11.4 per cent.
In a statement on its website, it said this second revision would be the final one.
Ms Sherman Chan, an economist at Moody's Economy.com, said the strong number was unlikely to shake sentiment in the market, which is pencilling in a marked moderation in growth this year.
'First, the change in GDP estimates for two years ago will not alter the economy's near-term outlook. The only effect is perhaps negative, as a stronger 2007 would make the 2008 slowdown more upsetting,' Ms Chan said in a report.
'For 2009, a further slowdown is projected, as the global economy remains in a dismal state, hurting China's export-related businesses, which have been the bread winner for the country,' she added.
The NBS is due to announce 2008 GDP data next week.
Forecasts of economists polled by Reuters centre on growth for the fourth quarter of 7.0 per cent from a year earlier, which would be a nine-year low.
Still, the updated 2007 figures give China the right to brag that only the United States and Japan now have bigger economies.
Using the World Bank's official estimates of the size of economies, China was already snapping at Germany's heels before Wednesday's revision.
The World Bank uses Gross National Income (GNI) converted to dollars using the Atlas method, which takes a three-year moving average for the exchange rate.
China now estimates that the total value of goods and services in 2007 was 3.1 per cent higher than previously thought.
Applying this increase to the World Bank's published rankings gives China a GNI of US$3.218 trillion (S$4.75 trillion) for 2007 compared with US$3.197 trillion for Germany - a modest lead, but one that will have widened considerably in 2008.
GNI takes into account all production in the domestic economy plus net flows of income from abroad such as profits and wages.
That s why I hire as many PRC as I can because they have good attitude unlike our youngster fresh grads who don't know anything but want all the perks
Plus they all influenced by Hollywood and all chiak kantang and pinkerton
China boleh!!!
China now 3rd-largest economy
Wed, Jan 14, 2009
Reuters
BEIJING - CHINA on Wednesday revised up the country's gross domestic product growth for 2007 to 13.0 per cent from 11.9 per cent, leapfrogging Germany in the process to become the world's third-largest economy.
The revised growth rate, announced by the National Bureau of Statistics, was the fastest since 1993, when the economy expanded 13.5 per cent.
The statistics office had already updated its estimate of 2007 growth last April from an initial reading of 11.4 per cent.
In a statement on its website, it said this second revision would be the final one.
Ms Sherman Chan, an economist at Moody's Economy.com, said the strong number was unlikely to shake sentiment in the market, which is pencilling in a marked moderation in growth this year.
'First, the change in GDP estimates for two years ago will not alter the economy's near-term outlook. The only effect is perhaps negative, as a stronger 2007 would make the 2008 slowdown more upsetting,' Ms Chan said in a report.
'For 2009, a further slowdown is projected, as the global economy remains in a dismal state, hurting China's export-related businesses, which have been the bread winner for the country,' she added.
The NBS is due to announce 2008 GDP data next week.
Forecasts of economists polled by Reuters centre on growth for the fourth quarter of 7.0 per cent from a year earlier, which would be a nine-year low.
Still, the updated 2007 figures give China the right to brag that only the United States and Japan now have bigger economies.
Using the World Bank's official estimates of the size of economies, China was already snapping at Germany's heels before Wednesday's revision.
The World Bank uses Gross National Income (GNI) converted to dollars using the Atlas method, which takes a three-year moving average for the exchange rate.
China now estimates that the total value of goods and services in 2007 was 3.1 per cent higher than previously thought.
Applying this increase to the World Bank's published rankings gives China a GNI of US$3.218 trillion (S$4.75 trillion) for 2007 compared with US$3.197 trillion for Germany - a modest lead, but one that will have widened considerably in 2008.
GNI takes into account all production in the domestic economy plus net flows of income from abroad such as profits and wages.
