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China Pulls Back on US Investment Amid Unrest at Home
January 8, 2009
China is putting the brakes on buying US debt according to a report today in the New York Times. That can be very bad news for President Elect Barack Obama’s efforts to bring the US economy out of the doldrums. The Chinese are experiencing a slowdown in their economy that will call for economic investment on the mainland. Investors from other countries are expected to step up to partially fill the gap left by the Chinese.
 
China is experiencing unrest and, in some cities, rioting and property destruction as a result of the slowing economy.  The PBS news program, "The NewsHour with Jim Lehrer", featured a report on Wednesday by Nick Paton Walsh of Independent Television News documenting strikes and protests by Chinese workers laid off by closure of manufacturing plants on the southern edge of the country.

The reporter toured one looted building with unemployed workers and viewed their sleeping areas when the factories were going. The building was trashed and abandoned. Some workers said eaten in two days. Some accused factory managers of running off with company money and without paying them. Most astounding was the push back by workers when Chinese police officers tried to stop the cameras. They tussled with police until the cops backed off and watched the story go on. Unrest Spreads in China
 

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Mary B. Potter, Editor
Email editor@westkyjournal.com
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