METAN Brings U.S. Daytime Soaps To China

5 Oct
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Popular U.S. daytime dramas “Guiding Light” and “As the World Turns” will head to China thanks to a new deal between Metan Development Group and Power for the distribution of the soaps in that territory, METAN and Power said Monday.

The deal was negotiated by Metan’s Gordon Chu, Power’s George Sakkalli and TeleNext Media’s Brian T. Cahill.

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  1. Priscila Says:

    Yah, I live here in Beijing and have for 5 years, I can tell you it’s not 60% its 100%. Their mercantilist emconoy didn’t come to an end during the crisis in 08 because the gov’nt pumped about 3 trillion dollars in easy loans and direct stimulus that has exacerbated an already bloated real estate bubble as well as a stock market bubble, as well as rampant inflation. Let me give you an idea of whats going on here. The average person here in China makes about 800-2000rmb a month. Housing prices are about 2 million rmb for a small 800 square foot apartment. To rent that same apartment is about 4000rmb a month. Normal average everyday working people cannot even rent an apartment. Pork which is the meat of choice here, is about 15-20 rmb per pound. Now this is the capital city, the other cities aren’t as bad, but the proportions of cost of living compared to average wage is just as bad. Anyone living here can see that this is not sustainable. The country is getting by on gov’nt spending alone which is not sustainable. This talk of creating a domestic demand driven emconoy is not possible when 80% of the people are making scraps and still can’t even afford to rent apartments. Mind you education and retirement is paid out of pocket here. A cheap kindergarten (I’m a kindergarten ESL teacher) costs about 1500 rmb a month. How can you afford that if your making 2000 rmb a month and you have to save for retirement because your country has no social security system. The municiple governments here have a combined debt equal to 70% of the whole countries gdp, different estimates have put anywhere from 1/3 to half of that debt being non preforming loans. Couple that with the raising interest rates to combat inflation which is officially at 6%, and the central bank raising the reserve requirements of all the banks here AND the increasing number of retirees that are now going to be withdrawing money from their accounts and no longer depositing money. Of course there’s going to be a crisis. The local gov’nts unable to repay their loans. The real estate developers that are not going to be able to repay their loans because they can’t sell houses. (There are whole sections of the city that empty apartments complexes, and apartment complex here are meant to house 10′s of 1000′s and this is the capital!) Lets not even get into the private sector here, because there majority of the population is so poor and the competition is so steep, no one is making profits here. The profit margins are razor thin if your making a profit at all, the companies are relying on gov’nt subsidies, loans, and investment to sustain themselves. Not income from selling a product or service. I know back home they make China out to be this big scary monster that’s going to eat America up, but if you live here and see what’s going on its a completely different story. Most experts here think that you talk to seem to think that the crisis coming to China will end in a Soviet style collapse. I could go but I think you guys get the point.

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