Armco Metals Holdings Inc. (AMCO) and China’s Push toward Smart Economic Growth
Three decades of sustained economic growth has lured millions from the impoverished Chinese countryside. This great migration has put 46 Chinese cities over the one million mark since 1992, out of a national total of 102. In Shanghai there were no skyscrapers in 1980; today it has twice as many as New York. Between 1990 and 2004 developers erected the equivalent to 334 Empire State buildings, and China’s construction workforce continues to employ over 37 million people. Currently, over 40% of China’s entire population is now considered part of the urban population as growth patterns shift people away from rural…