China Growing Faster Than Previously Thought

An interesting report is out that shows China growing faster than previously thought.  That's because they changed the way they count economic growth.  By taking into account emerging service business, China pegged it's 2004 growth rate at 16.8%.  The newly revised figure places China as the world's sixth largest economy.

I don't find these numbers suprising at all.  My recent time in Shanghai revealed a nation determined to move into the pantheon of developed countries.  Investment in basic infrastructure is strong and Chinese universities are producing large numbers of educated workers.

The result of all this is that China is and will continue to be a good choice for multi-national corporations looking for a place to locate Shared Service Centers.  Low cost, the Chinese work ethic, and the country's commitment to economic development should place China on the short list of places to locate workers.