Letters and Blogs

China's choice in global crisis

China appears to be the world's only hope. China's stock price index, however, has also dropped by 70 percent, from peak 6100 to 1900. The current financial crisis will affect the real economy sooner or later.

In fact, thousands of export factories in southern China have suffered from huge losses. Overseas orders have been declining and the worsening drop seemingly shows no sign of slowing down. All over the country, the steel industry busies itself with cutting back on production.