WCA November 2012

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Wind of change
blowing in China
Hot on the heels of a successful wire China, change is
afoot in the country. As I was driving into work this
morning, the news headlines were dominated by the
world’s second largest economy.
This was on a number of fronts. Firstly by the
once-in-a-decade leadership change that happened in
October.
Secondly by another story trickling across the airwaves...
another one you don’t generally hear associated with
China.
The economy had slowed for the seventh successive
quarter. On further investigation, this is not necessarily as
gloomy as it first appears.
While this would have been devastating news for any
number of countries around the globe, for China it is a
predicted ‘stabilising’ of the economy, according to
leading government figures, that is.
Whilst any dip in growth is not the brightest of economic
news for any country, the fact that it was 7.4 per cent for
the quarter puts it all into perspective, despite the fact
that GDP growth in that part of the world is generally in
the double digit numbers.
There will, inevitably, be further changes in the economy
now the leadership change has taken place, but the two
incoming leaders already have their fingerprints over the
next ten year plan for the country, having played a large
part in its formulation.
China, it appears, will be as
strong as ever. The speed of
growth may slow a little and it
may be a little more domestic
rather than global, but expect
a very bright 2013.
David Bell
Editor
6
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Wire & Cable ASIA – November/December 2012