Economy
Guizhou is a relatively poor and economically undeveloped province, but rich in natural, cultural and environmental resources. Its nominal GDP for 2011 was 570.18 billion yuan (90.5 billion USD). Its per capita GDP of 10,258 RMB (1,502 USD) ranks last in all of the PRC.
Its natural industry includes timber and forestry. Guizhou is also the third largest producer of tobacco in China, and home to the well-known brand Guizhou Tobacco. Other important industries in the province include energy (electricity generation) - a large portion of which is exported to Guangdong and other provinces - and mining, especially in coal, limestone, arsenic, gypsum, and oil shale. Guizhou's total output of coal was 118 million tons in 2008, a 7% growth from the previous year. Guizhou's export of power to Guangdong equaled 12% of Guangdong's total power consumption. Over the next 5 years Guizhou hopes to increase this by as much as 50%.
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Famous quotes containing the word economy:
“The basis of political economy is non-interference. The only safe rule is found in the self-adjusting meter of demand and supply. Do not legislate. Meddle, and you snap the sinews with your sumptuary laws.”
—Ralph Waldo Emerson (1803–1882)
“I favor the policy of economy, not because I wish to save money, but because I wish to save people. The men and women of this country who toil are the ones who bear the cost of the Government. Every dollar that we carelessly waste means that their life will be so much the more meager. Every dollar that we prudently save means that their life will be so much the more abundant. Economy is idealism in its most practical terms.”
—Calvin Coolidge (1872–1933)
“The aim of the laborer should be, not to get his living, to get “a good job,” but to perform well a certain work; and, even in a pecuniary sense, it would be economy for a town to pay its laborers so well that they would not feel that they were working for low ends, as for a livelihood merely, but for scientific, or even moral ends. Do not hire a man who does your work for money, but him who does it for love of it.”
—Henry David Thoreau (1817–1862)