Chinese Economics Thread

[chlosy]

at some point, I think we need to find a non-fossil fuel solution for many of the chemicals that we get from petroleum refining. It seems to me that sulfuric Acid will still be pretty important going forward and currently not really replaceable in a lot of industrial processes.

just curious, and you might not answer this... do you lead a team of analysts? how can you generate so much stuff??? more power to you

 

[MortyandRick]

https://twitter.com/i/web/status/2032773557504119132

China at this point and Japan probably have reached similar level of living standard for average workers based on where the current exchange rates are. Japan's post tax average salary is still higher, but China's cost of living is lower.

And I would say this to everyone on this board. Going forward, please stop comparing China to India. Is it Chinese culture to look down rather than look up? China should be judged by its progress vs other leading East Asian economies like Japan and South Korea.

Based on these changes, how much do you think the lower Japanese yen will help their exports barrel Chinese exports in SEA? Especially cars and machine tools?

 

[magmunta]

https://twitter.com/i/web/status/2032773557504119132

China at this point and Japan probably have reached similar level of living standard for average workers based on where the current exchange rates are. Japan's post tax average salary is still higher, but China's cost of living is lower.

And I would say this to everyone on this board. Going forward, please stop comparing China to India. Is it Chinese culture to look down rather than look up? China should be judged by its progress vs other leading East Asian economies like Japan and South Korea.

No, that that's not even close. GDP ppp per Capita, and average salary adjusted for cost-of-liviving are both significantly higher in Japan than in china. China isn't even a high income country to begin with.

 

[Gogurt4ever]

https://twitter.com/i/web/status/2032773557504119132

China at this point and Japan probably have reached similar level of living standard for average workers based on where the current exchange rates are. Japan's post tax average salary is still higher, but China's cost of living is lower.

And I would say this to everyone on this board. Going forward, please stop comparing China to India. Is it Chinese culture to look down rather than look up? China should be judged by its progress vs other leading East Asian economies like Japan and South Korea.

In terms of urban living standards, sure, but China has still has a lot more rural poverty/dilapidation than Japan. China still needs one last big rural revitalization push in my opinion.

 

[PopularScience]

In terms of urban living standards, sure, but China has still has a lot more rural poverty/dilapidation than Japan. China still needs one last big rural revitalization push in my opinion.

No more rural poverty. They can simply go to big cities as migrant workers.

 

[tphuang]

just curious, and you might not answer this... do you lead a team of analysts? how can you generate so much stuff??? more power to you

Apparently, I spend too much time reading stuff online

Based on these changes, how much do you think the lower Japanese yen will help their exports barrel Chinese exports in SEA? Especially cars and machine tools?

Well, China's cost advantage vs Japan is still quite immense due to scale and lower energy cost.

In terms of urban living standards, sure, but China has still has a lot more rural poverty/dilapidation than Japan. China still needs one last big rural revitalization push in my opinion.

yes, you are right on this.

Not saying things are perfect in China by any stretch.. But it is quite something for us to already be at this point after 45 years of opening up.

 

[FriedRiceNSpice]

No, that that's not even close. GDP ppp per Capita, and average salary adjusted for cost-of-liviving are both significantly higher in Japan than in china. China isn't even a high income country to begin with.

Japan's real GDP/capita is only 1.8x higher, and at nominal GDP/capita of greater than 14,000 China is a high income country. Living standards for the average Chinese still has a ways to go before reaching Japanese standards, but living standards in tier 1/2 cities have caught/surpassed average Japanese living standards.

 

[tphuang]

Japan's real GDP/capita is only 1.8x higher, and at nominal GDP/capita of greater than 14,000 China is a high income country. Living standards for the average Chinese still has a ways to go before reaching Japanese standards, but living standards in tier 1/2 cities have caught/surpassed average Japanese living standards.

also, I used post tax take home income. That's different from GDP/Capita. I just use the example of BYD factory worker of 9000 RMB/month. Which to me seems like a reasonable proxy for median take off income. And this doesn't even count the stipend of having company covered food & lodging in many cases

 

[FriedRiceNSpice]

I just use the example of BYD factory worker of 9000 RMB/month. Which to me seems like a reasonable proxy for median take off income.

Very reasonable accounting for tier 1/2 cities, but elsewhere in China 9000 RMB/month of take home income would be considered very high.

 

[Maikeru]

also, I used post tax take home income. That's different from GDP/Capita. I just use the example of BYD factory worker of 9000 RMB/month. Which to me seems like a reasonable proxy for median take off income. And this doesn't even count the stipend of having company covered food & lodging in many cases

To be fair this is also common in Japanese industry, at least at junior levels workers often stay in company dorm.