Well, there may not be a Woo-woo in China but there is a Wuhu and its story is a little amazing. Wuhu occupies a populous spot near the heart of central China. Some 250 million people live within a 250-mile radius of the city which includes Shanghai. Wuhu's population is 2.3 million.
Wuhu has undergone such an unprecedented growth explosion in the past two decades that 4/5ths - 80% - of its population live in new housing. It is the home of the 6 year-old automaker Chery. Chery plans an expansion from 350,000 units annually to 1 million to begin exports of its cheap cars to the U. S. and Europe. Wuhu is the center of Chinese manufacturing might and the following stat must give one pause.
China is now the No. 1 producer of digital cameras, color TVs, cell phones, footwear, bicycles, home air conditioners, eyeglasses, wedding gowns and even the freight containers that carry exports abroad.A few hours down the Yangtze River from Wuhu is Shanghai, China's richest city. Shanghai has at least 2,093 buildings 18 stories and higher, many of them new. Its metropolitan area has more high-rises than the West Coast of the United States.
Wedding gowns? Truly frightening.
Tags: China economy government