China’s Economic Boom Benefits All, Says Thornton
China valuable trading partner - Kenneth Thornton
“The Chinese economy is booming, with both national and individual wealth soaring higher than ever before. This tremendous progress is a good thing not only for the people of China but for the rest of the world, creating a new, valuable trading partner for North America, the European Union and other economically developed nations,” states Kenneth Thornton, president Thornton Business Systems.
“We are experiencing the growth first hand,” notes Thornton, who recently returned from a trip to Hong Kong and The Peoples Republic of China. “We visited our offices and agents in Hong Kong and visited factories in China that manufacture office furniture for us.” Ken Thornton’s group took initial steps for two new companies. One will be a company that markets furniture and furnishings for the hospitality industry. The other will be a sourcing company that will provide complete services to companies that want to find manufactures in other countries - especially China.
“China dominates East Asia geographically. It has a land area of over 3.5 million square miles and a huge population of about 1.3 billion,” states Thornton. The rapid financial growth of China has also seen it become increasingly dominant economically. In fact, China now has the fastest growing population of wealthy people, compared to anywhere else in the world. This article aims to explore the details behind China’s massive economic boom and the implications it will have for the rest of us.
“Financial success is not really a new phenomenon for China,” notes Kenneth Thornton, “ they have enjoyed significant economic growth for the past three decades, being the fastest growing economy globally throughout the whole of this period.”
In spite of recent fluctuations, the Chinese Stock Market is a fairly representative case study of the advancement of the Chinese economy as a whole. Investors have long seemed somewhat wary when it comes to buying Chinese stock or even Chinese products for that matter. This is understandable to an extent. It is undoubtedly true that there have been reasons for caution in China’s past; a poll taken four years ago showed that the majority of investors were actually making a loss. Change was needed and change is what has occurred giving a multitude of new investors the confidence to invest in China again. More than two and a half million new investment accounts were opened in 2006 alone - that is more than three times the number opened the year before. While all investments have their risks, and the Chinese market is not as regulated as that of the USA or Britain, all signs suggest that the confidence of these new investors is justified, with many of the early investors already seeing their initial investments increase substantially.
“It makes sense to put China’s economic growth into a global context,” states Kennenth Thornton. The world’s total wealth amounts to about $125 trillion, the average wealth of an American is approximately $144 000 and the average wealth of a Japanese person is approximately $181 000.
Kenneth (Ken) Thornton is founder and president of Thornton Business Systems (www.kenthornton-business.com). One of Thornton’s new companies is a sourcing company that will provide complete services to companies that want to find manufactures in other countries - especially China.
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