A recession, that would be unchartered waters - Paul French
Paul FrenchAs everybody is still guessing how the global financial crisis and a possible recession would affect China, any glimpse of a recession would be new in China, says China consultant Paul French to Sky News. "We are off the map when that happens."
"No one here has known a recession, no one here has known a slowdown. No one here has really known a time when jobs were hard to find, when unemployment kicked into the system, when people got worried. So we really would be in uncharted territory."Commercial
Paul French is a speaker at the China Speakers Bureau. If you want to have him as a speaker at your event, do let us know.
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posted by Fons Tuinstra at
7:57 PM
4 Comments:
Chinese must be all under twenty to have lost all their memories of bad economic times.
did he really say chinese dont remember hard times? if so, that is absurd...
I have quoted him here. He did not say Chinese did not know hard times, he said a recession would be something news. I agree, since a recession would mean a serious downturn after things have gone up for a longer time. That would indeed be new for China.
Paul cannot be serious.. doesn't he understand that 85% of this country lives in a precarious position every day. tied to crops and migrant labor? The numbers of graduates and over 50s that are unemployed???
If you review GDP data for the 1997 - 1999 time frame, it is on par with what people are expecting now.
Perhaps he should leave the executive office and get back into the field to see what is going on in the street
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