Reprinted From Knowledge @ Wharton (University of Pennsylvania)
On August 1, Mattel recalled approximately 1.5 million toys made by a manufacturer in China because of dangerous levels of lead in their paint. The recall marks a continuation of the quality control problems that importers of Chinese-made exports have been experiencing over the past two months in products ranging from pet food to fish to tires. Four days earlier, the Chinese government ordered the country’s banks to increase their reserves and thereby reduce the amount of money they can lend to business — part of an effort to cool down an economy that is growing at its fastest rate in 12 years.
But quality concerns and rapid growth aren’t China’s only worries. There is also the government’s need to keep forging ahead on preparations for the Olympics next August in Beijing, despite some criticism about overdevelopment, human rights abuses and unsafe levels of pollution.
We recently interviewed Wharton finance professor Jeremy Siegel about his views on China’s growth. In this podcast, we asked Wharton management professor Marshall Meyer, who visits China about five times a year, for his perspective on how the Chinese government is handling its economy, and some of these other issues as well.
http://knowledge.wharton.upenn.edu/article.cfm?articleid=1788
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