综合一区欧美国产,99国产麻豆免费精品,九九精品黄色录像,亚洲激情青青草,久久亚洲熟妇熟,中文字幕av在线播放,国产一区二区卡,九九久久国产精品,久久精品视频免费

High labor costs, consumer spending driving inflation

Updated: 2008-06-18 07:22

By Amy Lam(HK Edition)

  Print Mail Large Medium  Small

Slowing labor reallocation and consumption growth will be the main drivers of mainland inflation in the near future, according to Russell Napier, a consultant with CLSA's Asia-Pacific Markets.

Cheap labor from workers traveling from inland cities to work along the coast used to be the main way mainland inflation was driven down in the past. But urbanization has provided closer opportunities for laborers, reducing their need to travel.

"Manufacturing goods and services will lead the inflation," Napier said at a luncheon yesterday, noting that 75 percent of villages have no workers left to send to the coasts, and the urbanization rate has dropped from 5 percent to near 3 percent.

Meanwhile, Napier said the impact of the growing level of consumption on the GDP will cause secondary inflation as the mainland develops into a market economy.

 High labor costs, consumer spending driving inflation

A customer shops for clothes at a store in Beijing. The runaway inflation on the mainland has slowed down in recent months. AFP

Consumption has been encouraged by factors such as new labor laws and the renminbi's appreciation.

Napier said the mainland "is moving toward becoming a society of consumption like America was in the 1920s - people will borrow money to spend".

The mainland's inflation fell in May to 7.7 percent as food prices peaked. Yet, economists believe that food and energy prices will still be the top economic issue on the mainland and in Southeast Asia.

The growing inflation will hurt corporate earnings, raise interest rates and lower asset values in western regions of the mainland, he concluded.

(HK Edition 06/18/2008 page2)

隆德县| 天气| 兴仁县| 恭城| 杭锦后旗| 霍林郭勒市| 抚顺市| 保亭| 德江县| 德庆县| 延川县| 马山县| 津南区| 靖州| 吴忠市| 榕江县| 文登市| 襄汾县| 汕尾市| 桦甸市| 彩票| 安阳市| 额敏县| 萝北县| 沐川县| 台南县| 隆尧县| 伊金霍洛旗| 六枝特区| 胶南市| 阳江市| 吴堡县| 兴海县| 河北区| 丰镇市| 五原县| 平塘县| 乾安县| 武定县| 获嘉县| 青海省|