A Look at China in Numbers

Posted by Reading Time: 2 minutes

By Christian Fleming

Feb. 25 – As the workshop of the world, China has largely fueled its growth through the export of consumer goods to the West. This was undoubtedly the niche China was bound to fill with its army of cheap labor, abundant natural resources, and a burgeoning free market economy.

However, as world financial institutions teeter on the edge of collapse and the average Western consumer sees a drop in their disposable income, effects are being felt across world markets and China’s growth engine has not been exempt.

Here is a quick look at the figures that hint on how the current worldwide financial crisis has affected China. As the Greek philosopher Philolaus said: “It is impossible for a thing to be conceived or known without number.”

66 – US$ billionaires in China in 2007

24 – US$ billionaires in China at the end of 2008

17.5 – Percentage decrease in January for China’s year-on-year exports

20 million – Number of migrant workers who have lost their jobs

½ – The fraction of current wages migrant workers can expect if they are forced from the coastal provinces and back to the nation’s hinterlands

3,000 – Number of public security directors from across China who are being trained in Beijing to quell strikes, rallies, and protests

100 million – The amount, in square feet, of vacant office space in Beijing

1 – Number of events planned at China’s National Stadium, better known as the Bird’s Nest, in 2009. The Puccini opera, “Turandot,” is scheduled to show on Aug. 8 – one year after the Olympics’ opening ceremony.

53.8 – Percentage drop in Chinese steel exports in January year-on-year

40 – Percentage drop in Beijing’s 2008 housing sales

21.4 – Percentage decline in Shanghai’s industrial output

86 billion – Estimated annual cost of corruption in China in U.S. dollars

60 – Percentage decrease in Chinese stocks listed in Hong Kong since October 2007

5.3 – Percent reduction of Macau’s gambling revenues for January