antiterror13
Brigadier
I would fire that "dodgy" accountant ... I'd like to have £1,234,567.76
Chinese Economics Thread
- Thread starter Norfolk
- Start date
I would fire that "dodgy" accountant ... I'd like to have £1,234,567.76
AssassinsMace
Lieutenant General
Sounds like Single's Day is breaking records again but the US media is more reporting how Alibaba's stock went down. What happened to claiming consumer spending is down in China so they can question if China's recovery is real or not?
CNN report Nov 11,2020 : The single day just broke record. But we have to be careful if it is just one off event.
CNN report Dec 11,2020 : China just reported record rebound. But we have to be careful if it is just one off quarter.
CNN report Dec 11,2021: China just reported record GDP. But we have to be careful if it is just one off year(!!).
Celina Wang, reporting live from Tokyo.
Meanwhile in CNN HQ, Atlanta:
Oh don't worry, Western outlets will have some other random indicator ready to show that Chinese economy is crashing and then have Gordon Chang to claim that CCP is about to collapse.
This Article says that the US Total GDP is overstated by 15%. US GDP is actually on USD$17 Trillion compared to China's GDP at USD$15 Trillion.
Projects that China's economy will be larger than the US in Nominal GDP Terms by 2023.
Looks like the US Economy will very soon be overshadowed by China's Economy.
No wonder Trump and his Gang is using all the dirty tricks to slow China down.
Projects that China's economy will be larger than the US in Nominal GDP Terms by 2023.
Looks like the US Economy will very soon be overshadowed by China's Economy.
No wonder Trump and his Gang is using all the dirty tricks to slow China down.
manqiangrexue
Brigadier
Normally, when I see an article claiming a country has faked its GDP, I wouldn't take it seriously but in this case, the reasoning is quite good in my opinion:
"Moreover, did you know that 15% of U.S. GDP number is fake and is based on “imputations” or what-if scenarios? For example, when a person buys a home, the U.S. government adds “imputed rent” to the GDP, which is based on the faulty logic of, “If the person had not bought a house, he would have spent this much on rent.” It’s actually in the U.S. government’s website. If you subtract this fictitious, non-existent spending from the official numbers, the U.S. GDP this year will be only $17 trillion, which is practically the same as China’s expected GDP of $15.5 trillion."
Furthermore, America's GDP is heavily inflated by exorbitant healthcare and education costs. I remember that one year under Obama, they raised the GDP by increasing hospital fees, which basically means that at the expense of the common people, US GDP "grew" without doing anything to add to it. Chinese education is very very cheap (unless you join the rat race of bribing every one of your kid's teachers from elementary school up) and healthcare is certainly more affordable (very cheap for small problems, expensive for large operations, but in the US, even small problems can somehow run into the thousands and be completely unaffordable for the average American without insurance).
Chinese GDP, however, has an underestimation problem. By some estimates, most retail sales including restaurant bills are unrecorded! People in China don't like receipts and whenever there isn't a receipt, the sale is not taxed or reported. This happens sometimes even in well-to-do establishments. The CCP didn't like that very much since it drained their tax revenue so a couple of years back, they came up with a system where every receipt served as a small lottery ticket, but it wasn't very successful likely because the minute chance of winning something wasn't a big incentive to people. Additionally, businesses countered it by offering a small discount to those who asked for a receipt to dissuade them from it. Sales taxes in China are paid by the business rather than the consumer so if a restaurant would pay 130 yuan in tax on a 1,000 yuan bill, they could offer 50 yuan off to those who would relinquish the receipt and really only those who needed the receipt for reimbursement purposes would still insist.
It is quite possible, that China's real nominal GDP is already greater than America's.
Reviving the TPP with America joining it, that is impossible at the moment.
What they would have to do is reverse all of Trump's tariffs. Once those tariffs are in place and people get use to them, like new jobs, those new jobs won't be bargained away again by any US politician.
TPP is done.
Well, you'll have to fire a lot of them to get the one you want. Lol