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Newsweek |
Deflation China
- Low labor costs and an undervalued currency
suck investment and jobs from elsewhere. Legions of multinational firms are
relocating in China, whose exports threaten global deflation.
- Dell wants its laptops sourced in China because costs are
lower,
- Foreign exchange reserves now
total $453 billion for Japan (up $58 billion since last December),
$257 billion for China (up $42 billion) and $117 billion for South Korea
(up $14 billion).
- Urban unemployment is
unprecedentedly high at 11 percent to 13 percent, says Lardy.
There may be 200 million people underemployed in rural
areas
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