Love and Money in China

A spate of Chinese films

, plays and television shows have recently raised the question: 

What is love in an age of breakneck economic growth? 

Many personal stories seem to confirm that the ideal mate is the one who can deliver a home and a car, among other things; sentiment is secondary.

However widespread this mercantilist spirit, not everyone thinks it is a good thing.

Many Chinese were shocked this year when a female contestant on a popular TV dating show, “If You Are the One,” announced: 

“I’d rather cry in a BMW than smile on a bicycle.” 

But others insisted that the contestant, Ma Nuo, now popularly known as “the BMW woman,” was merely expressing a social reality.

Rocketing property prices in recent years have contributed to such feelings, 

with many people in Beijing and other cities accepting the idea that a woman will pursue a relationship with a man only if he already owns an apartment.

Feng Yuan, a 26-year-old who works in a government education company, tried to set up a friend with a man she thought suitable.

“When she heard he didn’t own an apartment, she refused even to meet him,” recalled Ms. Feng. 

“She said, ‘What’s the point? Without an apartment, love isn’t possible.”’ 

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The economic growth estimation for 2010 and projection for 2011-2013

Phnom Penh, Cambodia: The following is an overview of the economic growth estimation for year 2010 and projection for 2011-2013.

The economic estimation for year 2010 is based on economic performance and trend of the year 2009. Major principals used in the projection for economic performance in 2011-2013 is based on production function in real economic sector, effective tax rate in the fiscal policy and money velocity in the monetary policy.

According to primary estimation of National Institute of Statistics of the Ministry of Planning, it illustrates that real economic growth rate will be 0.1% at constant price and its deflation index will be 2.6% in 2009. The growth supported by good performance in agriculture and service sectors at especially the garment sector which dropped by -9.0%. In the year 2010, the Economic and Public Finance Policy Department (EPFPD) of the Ministry of Economy and Finance estimated that the real economic growth rate will approximately flourish by 5% at constant price and its deflation index will be 4.8%. The real economic growth rate will, in the period of 2011-2013, increasingly average by 6.3% per annum and its deflation index will be 2.7% by projection. The estimated and projected results are based on the significant economic data trend as bellows:

A.      Economy by sectors includes agriculture sector, industry sector, and service sector.

B.      Investment

C.      Inflation and Exchange rate

D.      Budget Implementation

E.       Currency situation

F.       Foreign Trade

Real GDP Growth and Projection 2004-2013 (% change)

To see more detail explanation, please download full document here.

Source : Ministry of Economy and Finance

Ten "First Impressions" of US Political Economy

I just read an article from Economy Watch with the title of Ten "First Impressions" of US Political Economy. I think it's so interest about US. To see full article, please click here.

US Political Economy - Hard to See As A Whole.