Saturday, March 13, 2004
Yahoo! News - Tough Competition in China's Rust Belt: "The northeast, home to 107 million people, has a wealth of natural resources - coal, forests, hydroelectric power, farmland. But in many areas those riches have been used up. Entire cities are imperiled by sinkholes over depleted coal mines.
even with state support most factories in the region limp along with equipment and technology dating back to the 1950s and 1960s. Only 15 percent of state factories have up-to-date technology.
workers accustomed to cradle-to-grave employment, welfare benefits and housing find it difficult to start businesses of their own, especially since state-run banks accustomed to government-backed public companies often turn them away. "
even with state support most factories in the region limp along with equipment and technology dating back to the 1950s and 1960s. Only 15 percent of state factories have up-to-date technology.
workers accustomed to cradle-to-grave employment, welfare benefits and housing find it difficult to start businesses of their own, especially since state-run banks accustomed to government-backed public companies often turn them away. "
