This is about job numbers, not the pay rate comes with those jobs. Why mess with success and more trade agreements?
July 23, 2015
By Melissa Burden
General Motors Co. (click here) on Thursday reported stronger than expected second-quarter earnings of nearly $1.2 billion, as the automaker set a record for its North American adjusted earnings and profit margin for any quarter since emerging from bankruptcy as a new company in 2009.
GM earned 67 cents a share. When factoring in special items totaling $1.1 billion or 62 cents a share, its earnings per share rose to $1.29, well above analysts’ calls for $1.08 a share.
The automaker earned a slim $190 million in the 2014 second quarter, or 11 cents a share. Its net income a year ago was significantly impacted by recall costs.
“The first two quarters of the year were strong as we fully capitalized on a robust North American industry and maintained our strength in China, despite the challenging conditions in that market,” GM CEO Mary Barra said in a statement. “We said our goal was to improve our earnings and margins this year, and we are on plan.
“Consistent with that, we believe our results in the second half of the year will be even better than the first half, and we’re confident we will meet our 2016 targets.”...
I'll be darn, GM is already selling cars in China. Nice. The strategy of growing a middle class works, now doesn't it?
The Chinese middle class is very new to China's economy. It will have it's ups and downs, but, China will find stability in opportunity for these people. These folks are real. They work for a living and earn a DISPOSABLE INCOME. It's great.
This is a dated article, but, provides the story of a new middle class. The Chinese middle class is a little over ten years old and the American people can be proud of believing all people should have the ability for upward movement. It is the American middle class that served as a model and example of where economic growth sincerely exists.
January 1, 2009
...Though many foreign companies (click here) have remarked on the importance of China’s middle class as a consumer segment, few realize just how dramatic its ascendance is. From 1995 to 2005, the population of China’s middle class—defined here as households with annual incomes ranging from $6,000 to $25,000—grew from close to zero in 1995 to an estimated 87 million in 2005, according to MasterCard Worldwide, Asia Pacific. China’s middle class will jump to 340 million by 2016 (see Figure 1). The purchasing power—disposable income minus savings—of China’s middle class is also growing. In 2006, around 39 percent of urban households were middle class (see Figure 2). By 2016, that percentage will likely rise to 60 percent. At present, the middle class accounts for 27 percent of China’s total urban disposable income. By 2015, that percentage is expected to rise to more than 40 percent (see Figure 3). Considering its swelling numbers, purchasing power, and trajectory, China’s middle class presents marketing opportunities that companies cannot afford to miss....
China can now be an import economy as well as an export economy. China and the USA can move through a balance of trade. That is good news to the USA. China and the USA can be two of the strongest economies in the world. That would be wonderful and a real accomplishment for China's leaders.
Local economies work for China as well as any other country in the world. Local economies in the USA is the cornerstone today after the 2008 global economic collapse. Local economies are where risk is managed and held to a minimum.
