Comments on: China’s economy shaky after earthquake http://welkerswikinomics.com/blog/2008/05/14/chinas-shaky-economy-2/ for students and teachers of AP and IB Economics Mon, 08 Sep 2008 00:58:30 +0000 http://wordpress.org/?v=2.5.1 By: Anna Grauers http://welkerswikinomics.com/blog/2008/05/14/chinas-shaky-economy-2/#comment-5125 Anna Grauers Mon, 19 May 2008 13:55:59 +0000 http://welkerswikinomics.com/blog/2008/05/14/chinas-shaky-economy-2/#comment-5125 These last days have really been one big turmoil for the rising dragon, China. Considering the impact of this earthquake it is certain that there will we great economic consequences, like the inflation mentioned. The rising food prices will definitely contribute to the problems that just seem to be building up right now. It was great how today we had three minutes of silence for the victims of the earthquake, it really got me thinking about the extent of suffering that just a few moments can cause. I guess economics can never be really prepared for situations like this, because it is built on the assumptions that all other factors are equal, ceteris paribus. However the issue with the social sciences is that they always have to deal with the "what if?". This incident just shows how even the fastest growing economy in the world can come to its knees by just one single blow. Ok, I know that I am exaggerating right now, but we can all see just how many lives that this has affected. It seems like no matter how hard we try, there is always something that we cannot account for. My respects go out to all of those affected in a direct or indirect way by the Sichuan earthquake These last days have really been one big turmoil for the rising dragon, China. Considering the impact of this earthquake it is certain that there will we great economic consequences, like the inflation mentioned. The rising food prices will definitely contribute to the problems that just seem to be building up right now.

It was great how today we had three minutes of silence for the victims of the earthquake, it really got me thinking about the extent of suffering that just a few moments can cause.

I guess economics can never be really prepared for situations like this, because it is built on the assumptions that all other factors are equal, ceteris paribus. However the issue with the social sciences is that they always have to deal with the “what if?”. This incident just shows how even the fastest growing economy in the world can come to its knees by just one single blow. Ok, I know that I am exaggerating right now, but we can all see just how many lives that this has affected. It seems like no matter how hard we try, there is always something that we cannot account for.

My respects go out to all of those affected in a direct or indirect way by the Sichuan earthquake

]]>