In the below video, originally aired on Current TV, journalists travel to China to document how the US consumer spending slowdown has devastated the Chinese manufacturing sector. Factories there have had to wind down production and lay off millions of workers as Americans buy fewer goods made in China.
The video is well put together and is produced by Vanguard, the same award-winning documentary group that had two journalists, Laura Ling and Euna Lee, detained in North Korea for several months until Bill Clinton personally met with Kim Jong-il and brokered their release.
This segment just came to our attention this weekend and, although it is from 2009, it’s well worth watching in order to understand these particular consequences of globalization that still impact China today. Watch below, or you can view the original post here.
Rocky Vega is publisher of Agora Financial International, where he advances the growth of Agora Financial publishing enterprises outside of the US. Previously, he was publisher of The Daily Reckoning, and founding publisher of both UrbanTurf and RFID Update -- which he ran from Brazil, Chile, and Puerto Rico -- as well as associate publisher of FierceFinance. Rocky has an honors MS from the Stockholm School of Economics and an honors BA from Harvard University, where he served on the board of directors for Let?s Go Publications, Harvard Student Agencies, and The Harvard Advocate.
Poor China. When the greed heads head for the door they will need to rely on themselves to buy all their cheap stuff.
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