Chinese Economics Thread

[antiterror13]

@SamuraiBlue
well done for looking for bad news (selective) of Chinese economy .. and well done to selectively looking for good news of Japan/US economy

 

[Tam]

US banks and corporations are no different from Chinese state owned enterprises, both get bailed out when necessary

The smarter economy is the one that lets losers lose. That's why China moves forward but Japan and the US can't.

 

[Tam]

China is world market leading source of caviar.

 

[Jura The idiot]

Yesterday at 8:11 PM

86 pages wow
China faces ‘huge challenge’ in living up to US trade promises as it ‘needs to buy US$300bn worth of goods in next two years’

• Beijing’s response reflects caution about possible missteps ahead while Americans give details of its pledges to boost imports
• Government adviser says Chinese appear less excited that the Americans about the ‘phase one’ agreement, which commit it to buying ‘lots more agricultural goods’

follow the link

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if interested

followup

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Trade war: China watchers gear up for ‘noisy ceasefire’ despite completion of phase one deal with US

• US-China trade war phase one deal largely welcomed, but businesses and former trade officials wary of getting carried away
• Geopolitical issues provide ample potential for deal to get interrupted, while text needs to be translated, legally scrubbed and proofread, state media said

makes me wonder how they'll make it enforceable

 

[plawolf]

Yeah, I have no idea what Xi and his team are doing. They are really going to sign and implement an unequal treaty? Again? Lets wait and see. I already have started to call Xi a sell-out. Unbelievable, spits on all the revolutionaries of the past century that have freed us of foreign suppression and unequal treaties.

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On the face of it, $300bn spend for only half rollback of tarrifs, that could then be re-imposed later is a poor deal. But you would have to be a fool to take this American regime at its word given its track record of blatant lies and misrepresentations.

It would make no sense for China to make such a deal, especially since it is the Trump regime who is the one desperate for the deal to avoid causing massive economic pain on American companies and consumers with this latest round of tarrifs.

I would bet that the $300bn figure is the final settlement figure, since that is what China offered at the very start of the trade war.

That means that $300bn would only be spent once tarrifs are fully rolled back, and measures put in place to make sure Trump could not re-impose them again after China has spent the money.

What China likely offered was a ‘substantial’ purchase as a goodwill gesture, which would be deducted from the full $300bn, and would be made up mostly, if not exclusively, of American pork and pork products.

That would be to help reverse the massive pork inflation in China this year as a result of swine flu, to bring pork prices back down to normal levels in time for Chinese New Year so that families can celebrate as normal without undue financial burden as a result of high pork prices.

It feels like a typical Trumpian move to do a bait and switch to miss-represent the full settlement amount as the phase 1 purchase amount.

China has little reason to correct him so long as China gets a good deal behind the scenes. Trump can claim whatever he wants for domestic consumption. And TBH, it would benefit China to have Trump for another 4 years, so that’s another reason why China is giving him a ‘win’ now.

 

[lgnxz]

The 300 billions numbers is still a hearsay. This number comes from a professor in a chinese university, not a number that is inked on any document. Others like the US trade negotiator lighthizer said that it's 200 billions which contradicts the 300 number. Personally, I doubt the chinese government would sign any of them, and given the lack of official confirmation from both sides (not even trump and his daily boasting on twitter), these information on the actual number of the trade deal should be taken with a grain of salt.

 

[Gatekeeper]

From the people who said China was going to collapse the first day of Trump's trade war...

You got to hand it to our residence Mr Blue for trying! lol. Just post anything without going through the most important of 6inches of empty space between the ears!

I wonder where he was when the financial crisis happened in 2008? I think he need to look at this chart before posting garbage!

 

[AssassinsMace]

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Look Out: Some Chinese Thinkers Are Girding for a “Financial War”

Behind the good feelings about trade, there are signs China is making plans for a much more hostile future with the U.S.

I often come across Americans who are bewildered that's there's resistance to them wanting to help China. I tell them have they ever heard of lying? They think that if they were lying a lightning bolt from the heavens would strike them down or their tongue would explode into flames but since it hasn’t, they must be telling the truth from the heart. They literally overnight went from hating the Chinese because they thought they were inferior to them to hating Chinese for not respecting human rights and democracy. How can they go 180 degrees diametrically opposed positions on a turn of dime like that? It’s because the common factor is they still get to hate the Chinese. Hiding behind humanitarian reasons is an excuse to continue to hate and hate you if you don’t go along. When China started retrofitting the Varyag, I remember a Pentagon official saying he didn’t understand why China would need a military when there’s the American military. China has a military to protect themselves from the US. No more apropos since Trump is President where he treats allies as the enemies of the US. Some were even offended that China would dare to see the US as the enemy at all while US politicians regularly paint China as the enemy. Yes, protecting yourself from them is an act of war just like China discussing a plan to disconnect from the US financially to protect itself from US whims is seen as a “financial war” on China’s part not the right to protect yourself. How is protecting yourself a “war”? It is when they want to have control over your fate and you're trying to deny them that right.

I was watching Fareed Zakaria’s cable show on Sunday morning and he had a group of pundits that the right would call liberal. They all agreed that the US and Europe were planning a Cold War with China over technology. What did China do that got them angry to join together in a Cold War? They’re not worried that China will develop technology no one should have. They’re worried because China will be a competitor and develop technology, they want for only for themselves so they can be in control of it and make all the money from it. Is that an “act of war”? They’re going to make it so because they need to find an excuse to inspire hate and a consensus so they can stop it. Yes, it’s war if you work to protect yourself. You should be vulnerable so they can do anything they want to you and not fear repercussions for their actions.

 

[Jura The idiot]

Yesterday at 8:48 AM

Yesterday at 8:11 PM
followup

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Trade war: China watchers gear up for ‘noisy ceasefire’ despite completion of phase one deal with US

• US-China trade war phase one deal largely welcomed, but businesses and former trade officials wary of getting carried away
• Geopolitical issues provide ample potential for deal to get interrupted, while text needs to be translated, legally scrubbed and proofread, state media said

makes me wonder how they'll make it enforceable

... while now
"A fact sheet released by the Office of the US Trade Representative (USTR) added that the deal would include stringent enforcement mechanisms should China not reform areas such as intellectual property rights, exchange rates and financial market access."
:

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[Tam]

China will route US good purchases from Hong Kong to Chinese cities directly to count as part of the trade deal. US traditionally doesn't count products sent to and routed through Hong Kong as part of the US exports to China. This is not good for Hong Kong's economy which will see reduced trade and further reduction of its role as a gatekeeper to China.

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China Plans to Buy Ethanol, Count Hong Kong Trade in U.S. Pledge